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Consider a region with 2 export products (saxophones and soccer balls) and 2 local goods (haircuts and music concerts). The production of each export good is subject to localization economies, so each city specializes in one export good. According to the urban economist Grace Slick ibis my two assumptions (one for export products and one for local goods) are correct, all the cities in the regions will be the same size?. Assume that Slickers logic is correct. List her assumptions and explain why together they imply the regions cities will have the same size.
If the jeans sell for $35 a pair and the competitive market wage is $250 per week. how many workers should stone hire? how may pairs of jeans will the company produce each week
The MidNight Hour, a local nightclub, earned $100,000 in accounting profit last year. This year the owner, who had invested $1 million in the club, decided to close the club. What can you say about economic profit (and the rate of return) in the n..
Suppose you are the Chief Economist of Antitrust Division of the Department of Justice. There is a single manufacturer of streaming video services that has a patent on technology so that no one else can give the service.
Using the "Monopoly" model found in the Chapter 10 "Origin of Idea" module, explain why a monopoly will never operate in the inelastic portion of the demand curve? What are the underlying purposes of the antitrust policy in the United States? Thes..
How many times would this fully insured person visit the physician?
Suppose you are the CEO of ClipIt, a paper clip producer. Your firm enjoys a patented technology that allows it to make paper clips faster and at a lower cost than your only rival, FastenIt.
What fraction of its oil consumption does it have to import and is it strange that even though the country is a net importer of petroleum, it exports some petroleum too?
Solve for the equilibrium output
1. describe s disincentive and its purpose. what change in behaviors or choices was incentives designed to achieve?2.
part-1suppose that the firm uses three inputs to produce its output capital k labor l and materials m.nbsp the firms
The output sold by a particular firm may be quite different from the output sold by the other firms in the market
gross domestic product gdp measures the market value of all final goods and services produced within a country in a
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