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1. Describe a command economy and a laissez-faire economy. Do any economic systems in the world reflect the purest forms of command or laissez-faire economies? Explain.
2. The nation of Rougarou is able to produce turnips and potatoes in combinations represented by the data in the following table. Each number represents thousands of bushels.
Plot this data on a production possibilities graph and explain why the data shows that Rougarou experiences increasing opportunity costs.
Consider the same two firms as above with marginal costs 10 and 40, facing a demand p = 100 - q. a. Find the market price and quantities produced if firm 1 moved first, followed by firm 2 b. Find the market price and quantities produced if..
Given the history of public health, how has the field of public health administration evolved? In other words, how does the role of the public health administrator of today differ from the role of the public health administrator in the past
Which one innovation do you think has increased productivity the most? List two innovations since 1990. How might they have boosted productivity?
Profit sharing is not widely practiced in the franchise business. What are its disadvantages relative to revenue sharing?
Assume autonomous real investment is $30, autonomous real government spending is $30, and autonomous real net exports is -$20. Compute Aggregate Expenditures at each level of real GDP. What is the value of equilibrium real GDP
The XYZ Company has estimated expected cash flows [in thousands] for 1996 to be as follows: Calculate: a. expected value b. standard deviation c. coefficient of variation d. If the true cash flows are normally distributed with mean from (a) and stand..
Maintained markup is 39%, net sales are $52000, and reductions are $2500. What are the gross margin in dollars, and the initial markup as a percentage Explain why initial markup is greater than maintained markup.
a. Compute the quantity sold and elasticity at a price of $1, and also at a $2 price, assuming the given advertising budget. b. What is the advertising elasticity at a price of $2 Give an interpretation of the advertising coefficient.
Identify target market and segmentation strategies
buy a computer for 2500 now keep it for 8 years and then sell it for 800. the computer is not expected to require any
How is the opportunity to trade likely to change the structure of the fashion industry and the output of each designer in the industry?
1. Set up the system of equations in matrix form. 2. Solve the system of equations to obtain the equilibrium vales of Y, C and G 3. Obtain the equilibrium budget balance
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