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Assume the natural environment including air, water and land can be used equally to produce either good X, Y or Z (but not all). If consumers give value of $700 for good X, $600 for good Y and $400 for good Z, which good should be produced if the decision is based on economic efficiency? Explain your answer.
Suppose the country of Liliput exported 229 billion dollars worth of goods while they comported 489 bilion dollars worth of goods in the last calendar year. Calculate Liliput's balance of trade:
Can you suggest a solution to this problem? How would it change your answers to part "a"?
a) Assume the stadium capacity of 30,000. What is the monopolistic outcome (price and quantity)? Marginal revenue: MR = 200 - Q/200. Please demonstrate on the g
Suppose trevor hires workers to cook hamburgers. If the first worker's marginal product is 6 hamburgers, the second worker's marginal product is 21, and the third worker's marginal product is 20, then the average product of labor is _____ hamburgers.
If a hard freeze eliminates premium coffee crop, illustrate what will take place to the price of premium coffee.
What are some characteristics of small businesses? What characteristics contribute to decision making processes?
Assume that the demand for Internet advertising is declining at the same time that the number of Internet sites accepting advertising is increasing. From this information, a student argues that that the price of Internet ads should fall, but it is..
Tina is very particular about her purchases: She only buys hot dogs and soda, and every time she makes purchases she buys exactly three hot dogs and soda. She would never buy three hot dogs without a soda, and would never buy a soda without three hot..
what way the U.S trucking industry exemplified the capture theory hypothesis of government regulation prior to the capture theory hypothesis of government regulation prior to the passage of the Motor Carrier Act of 1980
What is an example of an organism in Oklahoma that has aposematic coloration
Gainesville Cigar stocks Cuban cigars that have variable lead times because of the difficulty in importing the? product: Lead time is normally distributed
Piercing the Corporate Veil - you need to use the material from the week's lectures, text, and/or discussions when responding to the questions
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