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Compare and contrast the lives and contributions of "the men who built America" to the lives of their workers. How and what did each of these groups contribute to country? How did people like Rockefeller and Carnegie rationalize their extreme wealth? Do you believe it was fair for the workers to demand better conditions, pay, etc? Make sure to explain your answers, cite your source (s).
Illustrate what is elasticity of demand at profit maximizing level of output. Without use of any calculations, determine wherefirm=s total revenue would increase, decrease, or stay same if CRAPCO attempted to increase its price by .2%. Explain how..
Suppose an economy uses gold as commodity money. Consider the market for gold with the following Demand for Gold as Money: GD;M = 80 – 1/4*V Demand for Gold for Nonmonetary use: GD;NM = 15 – 1/4*V Supply of gold: GS = 35 + 1/2*V where V is the price ..
Background info for question below: "For all problems consider a market containing four identical firms, each of which makes an identical product. The inverse demand for this product is P = 100?Q, where P is price and Q is aggregate output. For all ..
What is an absolute and comparative advantage? Give an example from your own life where you have an absolute, but not a comparative advantage with someone else.
Suppose individuals require a certain level of food (x) to remain alive. Let this amount be given by X0. Once X0 is purchased, individuals obtain utility from food and other goods (y) of the form.
If CPI was somehow able to monopolize the market what would happen to the price of toothpaste, would it rise or fall? What would happen to the profits CPI makes via their toothpaste division?
A paint firm has just announced that it will be building a new plant in a small town that is currently experiencing a high level of unemployment. The new plant will create 500 new jobs in the area and will occupy unused land at the edge of town.
You are the manager of a local sporting goods store and recently purchased a shipment of 60 sets of skis and ski bindings at a total cost
Imagine that a $10,000 ten-year bond was issued at an interest rate of 6%. You are thinking about buying this bond one year before the end of the ten years, but interest rates are now 9%. Given the change in interest rates, would you expect to pay mo..
Discuss information and opinions related to the current banking crisis and/or past banking crisis. What causes them? How can we prevent them? What has been done/should be done during a banking crisis?
The principal benefit of tariff protection goes to: A ad valorem tariff provides domestic producers a declining degree of protection against import-competing goods during periods of changing prices. When the production of a commodity does not utilize..
In 1990, the ratio of Japanese to US labor productivity in the steel and consumer electronics industries were estimated to approximately 1.4 and 1.12. We will assume that (a) these are the only two industries and labor is the only factor of productio..
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