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Question: Draw and show the difference between residual and error term in a figure/plot.
Given that you are a newly hired government agent and you are speaking to an audience of business people, using economics terms, concepts, and or methods
How much (per unit) is the tax? Briefly discuss how incidence of the tax is divided between buyers and sellers in this case. Find comsumer surplus and producer surplus both before and after the tax. How much tax revenue has been generated? What impac..
Explain Lorenz curve and apply to unequal distribution of income where the top 1% of income earners have disproportional of income. What percent of income is earned by the lowest 20% of the population?
The goal of advertising may be seen as creating the compulsion to purchase a product. Is this a problem that should somehow be controlled/regulated? Or, rather, is the company simply offering information to the consumer so that they can freely choose..
The quantity demanded x of a certain brand of DVD player is 3000/week when the unit price p is $485. For each decrease in unit price of $20 below $485, the quantity demanded increases by 250 units. The suppliers will not market any DVD players if the..
In today's market, a business is nothing without an accompanying Facebook, Twitter, and Instagram account - right? Consider how you, as an employee
Compare and contrast the possible consequences for an economy of inflation and deflation.
Explain why a movement from a point inside a production possibilities frontier to the production possibilities frontier can be described as a free lunch and a movement along a production possibilities frontier is described as a tradeoff.
You have made an important presentation to several Japanese executives regarding a proposed partnership between your American company and their Japanese firm. The Japanese executives were very silent during the presentation. Most people in the United..
What possible impact could this event have on global trade? Provide a credible citation. What is President Trump's position on the TPP? Citation?
What does your decision to go or not go to the beach tell you about how much the week-long vacation is worth to you?
In 2001, an outbreak of hoof-and-mouth disease in Europe led to the burning of millions of cattle carcasses. What impact do you think this had on the supply of cattle hides, hide prices, the supply of leather good, and the price of leather goods? Can..
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