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With the aid of a diagram, draw a Production Possibility Fronteir (PPF) for an economy producing televisions and potatoes. Use the diagram to explain the concepts, scarcity and opportunity costs.
Has the rise of the internet and file sharing turned media such as movies and music into public goods? Why? Be specific in your explanation.
If gender is independent, how many males are expect to answer yes? Explain the answer and fill in the rest of the table 1.
Why are values important in development economics? If we say that the economy of the Central African Republic is subsistence economy, what would that mean? According to The New Economic View of Development, why economic development is different from ..
You are the owner of a family-owned restaurant. You do not pay yourself a salary or an hourly wage. How and why does this practice affect the economic cost of serving your patrons?
An increase in the price of product X causes a decrease in the quantity demanded for product X. One basic explanation for this is:
A Publishing company uses 400 printers and 200 printing presses to produce books. Elucidate how should the manager adjust input usage.
If, in the money market, the quantity of money demanded exceeds the money supply, we would expect the interest rate to:
Discuss balance of fixed and variable costs for organization. Explain how has Internet changed this balance for organizations.
Against what kind of goals should marketing opportunities be evaluated? Provide at least five examples and briefly describe how they should be structured.
Draw simple labor supply and demand graphs for the occupations of school teachers and plumbers to show the labor market in each profession. Show the reduction in output from discrimination. Show the economic gains from eliminating discrimination. Wi..
May borrows $750,000 to buy a unit. Her loan calls for equal monthly instalments for 10 years. Interest on the loan is 6.5% p.a.
A goatherd has the cost function c(y) = 2y2, where y is the number of tubs of goat cheese she makes per month. She faces a competitive market for goat cheese,with a price of $40 a tub. How many tubs should she produce per month?
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