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Consider the development of the trade routes of Afro-Eurasia (Indian Ocean, Silk Road etc). Then consider the development of the Atlantic System and other emerging global systems. What were the changes in systems of thought, economics and technologies that accompanied these changes? How did various states respond to these global shifts?
What would happen to the position of the demand curve for dental services if patients had to wait even longer for an appointment with a dentist.
Imagine an economy with two types of goods; those that are tradable T (goods that can cross borders) and those that are not tradable NT. The technologies to produce them out of labor are T(L) = 2LT and NT(L) = 4LNT. The total amount of labor in this ..
Explain how many spots of each kind should it purchase to meet se three goals and do so at minimum cost.
Identify an economic issue that both parties address and compare and contrast their views on that issue. Generally speaking, how much of the disagreement is based on normative economics compared to positive economics?
Define price discrimination. What three conditions must exist before a firm can use it? What antitrust act was relevant to the Von’s Grocery case of 1966? Why?
Chloe consumes chicken wing (x) and beer (y). Let Px+Py=M be Chloe’s budget constraint and her utility function is U(x, y)=5xy. Find the formula of income-consumption curve. Find the demand functions of chicken wing.
What would the Consumer Surplus, Producer Surplus, and Total Surplus be for the quantity demanded =1000-P and the quantity supplied =3P-120?
if relatively more drug users are addicts rather than casual users, prohibition will be more effective. Is this statement true or false? Explain. the interest income that could have been earned on money invested in a college education is not relevant..
What kind of economies come from reductions in cost due to adoption of technology that has high fixed costs, but lower variable costs?
Chevron Corporation is one of the largest integrated oil companies in the world. Its management is assessing the world marketplace and taking steps to sustain the company’s competitive position. Faced with business competition on a global scale, Chev..
You are planning to save for retirement over the next 35 years. To do this, you will invest $840 per month in a stock account and $440 per month in a bond account. The return of the stock account is expected to be 10.4 percent, and the bond account w..
Calculate the prot-maximizing monopoly price and quantity. Calculate the price and quantity that arise under perfect competition with a market supply curve P = Q=2.
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