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Discuss the reasons political scientists have identified for why people join interest groups. Elaborate on what interest groups do for their member
Mary has two possible career paths. She can become either a biologist or a concert pianist. Mary lives for 2 periods. In the first period she gets the appropriate education for her career. In the second period, she works in the labor market. Suppose ..
If the price of good A? falls, then when the consumer makes his new? utility-maximizing choice? _______. Total utility depends on the level of consumption. The units of total utility are arbitrary. Total utility is the total benefit that a person get..
The Law of Supply suggests that the price-elasticity of supply is: If a 10 percent increase in the price of one good results in no change in the quantity demanded of another good, then it can be concluded that the two goods are:
A firm plan to borrow $900 via issuing debt instruments. The firm can issue a simple loan, a fixed-payment loan or a coupon bond. If the interest rate is fixed at 8%, the face value of the coupon bond is $1000 and the fixed-payment loan has 5 payment..
Explain in words the difference between a positive and a negative network externality and give an example of each?
Using your knowledge of the biological dynamics of a fish population, develop a thorough and well-organized essay explaining the relationship between the biological growth of a stock of fish, the optimal economic outcome, and the challenge of attaini..
Suppose that the relative price of computers in terms of automobiles after trade is 3 automobiles per unit of computers. how can I graph the consumption
Assume the following simple supply and demand model: Assume a supply and demand diagram with P measured on the vertical axis and Qd and Qs measured on the horizontal axis. The sign of the derivative of Qd with respect to Pr suggests which of the foll..
Draw a graph for each part with quantities of vegetarian pizza on the horizontal axis and quantities of meat lovers pizza on the vertical axis to illustrate the following situations. In each case draw two indifference curves and make a little arrow p..
Entrepreneurial firms usually address economic substitutes rather than competing against large firms directly. Ultimately, to substitute for a product means to do without it. The entrepreneurial firm solves that problem. How might your own business i..
Marx saw private ownership of the means of production (i.e. industry) as the source of capitalism’s problems. Describe what “returns to the factors of production” were like in his day, and how that might have brought about a collapse of capitalism. (..
Your economy has a marginal propensity to consume (MPC) of 0.70. It is currently operating at a level at less than full employment. Prices appear to be sticky in this economy, but by some lucky stroke the rate of interest falls. Using the Keynesian C..
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