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Coach Steroid likes his players to be big, fast, and obedient. If player A is better than player B in two of these three characteristics, then Coach Steroid prefers A to B, but if B is better than A in two of these three characteristics, then Steroid prefers B to A. Otherwise, Steroid is indifferent between them. Wilbur Westinghouse weighs 340 pounds, runs very slowly, and is fairly obedient. Harold Hotpoint weighs 240 pounds, runs very fast, and is very disobedient. Jerry Jacuzzi weighs 150 pounds, runs at average speed, and is extremely obedient. Does Steroid prefer Westinghouse or Hotpoint?
Does Steroid prefer Hotpoint or Jacuzzi? Does Steroid prefer Westinghouse or Jacuzzi?
Will Steroid have any problem choosing one player out of the three? Why/Why not? What property is violated?
Given there is an overwhelming scientific consensus that global warming exists, why do many conservatives (like the Republicans running for President) deny its existence?
Using one or more recent examples reported in the U.S. media, explain why the state plays a key role in shaping economic processes.
You just won a contest and have been appointed State of CT Tax Commissioner. Your primary goal is two fold: raise revenue and make the tax code more efficient. You have to decide which goods to tax, which goods to raise taxes on and which good to low..
Instead of imposinga tariff, the government reached an agreement with foreign suppliers to "voluntarily" limit the portable radios they export to 1,250 per year. What is the deadweight loss resulting from this agreement?
What role does microeconomics play in business decisions compared to macroeconomics. Can you assit me with a real life example that would show the impact on the decision making process of the business.
What evidence have you discovered that points to the Classical, Keynesian, and Monetarist theories being debated today? What is supply-side economics? Does it oppose the Classical, Keynesian, or Monetarist theory? How does supply-side economics affec..
You are organizing a rock concert to benefit Amnesty International. The concert is to be held in a football stadium that has a seating capacity of 56,000. There are two types of seating: reserved and general.
In the two-period intertemporal consumption model, if MRS = C2/(4C1), r= 5%, Y1 = 50 and Y2 = 105, the optimal consumption combination
Illustrate what ways do health care expenses affect economy. Illustrate what are economic advantages to government involvement in healthcare.
The removal of a price ceiling in a market results in:
Cameron is currently unemployed and without health insurance coverage. He derives utility (U) from his interest income on his savings (Y) according to the following function: U(Y) = 10(Y^[1/2]) Cameron presently makes about $10,000 of interest income..
The US put a specific tariff of €10 on European widgets. Calculate the new equilibrium quantity and price as well as the new Monopoly's profit.
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