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a normal demand curve is downwards identify four abnormal exceptional demand curve
Suppose that an MBA degree creates no externality because the benefits of an MBA are internalized by the student in the form of higher wages. If there are no government subsidies for MBAs, then which of the following statements is correct
Using the ideas of marginal costs and marginal revenues, describe why economic profits are maximized where marginal revenue equals marginal cost and why profits decline if price is above or below the profit maximizing price.
Define any key terms that you feel are important in answering the following question as they are defined in the textbook and explain, in your own words what those definitions mean , and then thoroughly analyze each situation to answer the following q..
1. budget constraint.antonio buys 8 new college textbooks during his first year at school at a cost of 50 each. assume
exchange economy 1. suppose that in a simple two-good exchange economy the two individuals a and b have the following
Suppose there are 100 workers in the economy in which all workers must choose to work a risky or a safe job. Worker 1's reservation price for accepting the risky job is $1; worker 2's reservation price is $2, and so on. Because of technological re..
An rise in the marginal propensity to will reduce the size of expenditure multiplier and therefore the IS-curve will shift to the
suppose that the cost of capturing a cockatoo and transporting him to the united states is about 40 per bird.
Proponents of government spending claim that it provides public goods that markets generally do not, such as military defense, enforcement of contracts, and police services. Standard economic theory holds that individuals have little incentive to ..
Explain two different markets where has been a market disequilibrium. That is, there is a shortage or a surplus. Briefly explain the supply and demand curve.
1. Why do you suppose that firms in Artic nations are already developing specialized tanker ships and platforms for use in privately accessible Artic areas 2. What are possible opportunity cost of opening Artic lands to private extracti..
A perfectly competitive firm encounters the following monthly costs and price. What is the fixed cost of this firm? What is the optimal output of this firm?
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