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Discuss your understanding of the seeming conflict between economic growths versus equity. Specifically, does the Congress or a section of the Congress promote economic growth without proper attention to achieving equity - a fundamental goal of our society?
List the different types of market structures that big data benefits the least and benefits the most. While data collection may benefit the business community, discuss the potential concerns for consumers that arise with the proliferation of big data
Suppose a consumer derives satisfaction from consuming tacos: those from Taco Bell and those from Chipoltle. Graph the budget line of the consumer under the assumption that he is offered a “buy three, get one free” deal at Taco Bell (limit one free t..
What is allocative efficiency using the benchmark model?
briefly explain the probable effects of the screenwriters’ wage increase on: Equilibrium price, equilibrium quantities, and total revenues in the movie and popcorn markets.
In the short run the typical company increases its output but its total cost also rises. Hence, the effect on the company 's profit cannot be determined without more information.
List the economic benefits of, and problems with, subsidized college education. Examine subsidized college education by considering answers to the three basic economic questions: What to produce with limited resources? How to produce the goods and se..
Suppose that Tamara and Vicki are both in the public eye. They get offers to sell secrets of the other to tabloids. If both keep the secrets, they are both better off than if they get exposed. If only one is exposed, the other person is better off th..
Elucidate using the example of multiple equilibria in the labour market. Illustrate diagrammatically
The purchase of a used pick up for $14,000 is being considered. Records for other vehicles show that costs for oil, tires, and repairs about equal the cost for fuel. Fuel costs are $2500 per year if the truck is driven 10,000 miles. Use a weighted es..
q.suppose two individuals smith and jones each have 10 hours of labour to devote to producing either ice cream x or
During the summer, there are several hot dog stands spread around downtown Boston. They sell very similar products, have little leverage over their market's price, earn little long-run profit, and are not protected from entry and exit by laws and reg..
Create a table where Q equals 0, 10, 20, 22.5, 30, 40 50 and 55. In the table include Quantity, Price, Total Revenue, Marginal Revenue (where MR equals the change in TR divided by the change in Q in the table), MR where MR=a-2bQ (include an explanati..
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