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Economists say that excess capacity in monopolistically competitive markets is "the cost to society of variety." What is the cost that economists are talking about and why is this cost the result of having a variety of goods and services?
Describe the purpose of ecumenical services and interfaith initiatives. What importance, if any, does dialogue between the various faith traditions have? Find one example of either an ecumenical service or interfaith initiative in your town or city a..
What are your monthly payments during years 5, 6, and 7? b. How much interest is in the sixtieth month's payment? How much principal?
How do events, such as the World Trade Center and Pentagon attacks describe in the case study “The Ripple Effects of 9/11” affect the aggregate expenditure line and the aggregate demand curve?
AMS recently instituted an in-house reprocessing program. The profits of this program include not only the benefits to the environment of recycling but also the goodwill generated by AMS's leadership in this area.
Suppose that households in the US switched some of their wealth out of their checking accounts and into short term bank CD's. If banks use all excess reserves to support increased lending, what is the effect on this household behavior on the overall ..
Gold has recently hit record high prices. When adjusted for inflation, gold remains below a 1980 peak price of $850 per troy ounce. Suppose this 1980 price equates to $2,400 per ounce in 2014 dollars. Based on the prices of gold in 1980 and 2014, wha..
Draw the Cost effectiveness Frontier - What concept can you attribute this change in treatment choice before and after insurance? Explain.
The welfare system provides income for people who are very poor, with low incomes and few assets. If a recipient of welfare payments decides to work and earn some money, the amount he or she receives in welfare payments is reduced. a. How does the ex..
The 2012 Human development Report reported that the HDI of South Africa was 0.629 (and its rank was 121) and that of the peru was 0.741( and its rank was77) in 2012 South Africa's GNI per capital ? In US dollars) was 7610 and that of Peru was 6060. C..
If the economy is facing rising levels of inflation, what would the Fed do with its three monetary control tools? Why does the Fed buy government securities during a recession?
Use the theory of transaction costs to justify protecting the following rights by injunction or damages: Suppose that two people choose to litigate a dispute. Should the law presume that if two parties are prepared to litigate, transaction costs must..
Explain how much profit will the perfectly competitive firms earn. Explain how much profit will the monopoly firm earn.
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