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Question: 1. What is the presumed purpose of all legislation according to the economic theory of legislation?
2. How do the concepts of "concentrated" and "diffuse" interests determine whether a group represents its interests before legislators?
3. Why are producer groups more likely than consumer groups to be successful in the legislative marketplace?
ceteris paribus that is all other things equal or assuming no changes to performance in future years and no change in
An airline ticket costs the same from Casper, Wyoming to Denver, Colorado, and from Denver to Orlando, Florida. Does this make economic sense?
Calculate the payback period (P/B) and the net present value (NPV) for the project - Answer the following questions based on your P/B and NPV calculations.
If I have a set utility function of U=FC and know the MUf and MUc, Pf and Pc, and income, how do I figure the market basket he would choose?
What is the structure for a firm with at least some ability to determine price? How are price and output levels determined rationally? Since price can, at least to some degree, be determined by the seller, is this firm sure to enjoy profits?
What is the projected impact on the per unit de manufacturing cost of a 50% increase in training costs coupled with a 90% increase in transportation costs?
If the price of labor is w = 36, and the price of capital is r = 64, how much labor and capital should the firm hire in order to minimize cost of production
A solar-powered personal aircraft with VTOL capability has been under development for the past 30 years by a group of engineers and physicists.
Explain why it is or is not possible to calculate the elasticity of demand for alcohol consumption for the state situation?
Find the best response function for each firm and solve for the Nash equilibrium prices for each firm
The following payoff table depicts service competition between two hospitals in a southeastern city. These two hospitals dominate the market in this city. (Each payoff represents profit in millions of dollars.)
Examine the models of oligopoly and create at least one recommendation for improvement. Describe your rationale.
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