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According to this Application, after the government deceased cigarette taxes in several Canadian provinces, demand for cigarettes ________ in these provinces, shifting the demand curve to the ________.
Show the total and marginal products and indicate at each level of production whether the production function exhibits increasing, constant, or diminishing marginal productivity.
How can having panel data (with T=2 and n sufficiently large) help solve the omitted variables problem if the omitted variables are time invariant (don’t vary over time)?
Which of the following is classified as a sunk cost?
Let G be the number of television broadcasts each day. Consider 3 individuals with preferences UA =G/4 UB =2–G^(3/4) UC =G–(G^2)/2 a) Show that the 3 consumers have single-peaked preferences
If you were the angel investor, what is your certainty equivalent for these two projects? Are you risk-averse, risk-neutral, or risk-lover?
At the profit-maximizing quantity, what is the average total cost of producing e-books.
In 1975, President Ford proposed a $28 million cut in government spending and a $28 million tax cut, what is the result of the two actions on the economy? Show you work. Hint: notice that the numbers are the same - $28 million.
Elucidate what will happen to equilibrium cost and quantity of satellite TV service if wages of workers who provide satellite TV service increase while at same time cost of cable television service.
Which of the following is an example of adverse selection?
Advise the firm on how to plan production in the coming month if average income is set to increase by 12%.
Consider a couple's decision about how many children to have. Assume that over a lifetime a couple has 200,000 hours of time to either work or raise children.
Should the Federal Reserve Board of Governors remain independent - What is the strongest argument on either side?
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