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A mid-level manager with 10 years experience at an insurance company located in San Francisco generally earns more than a high school teacher with the same experience in Evansville, Indiana. Give at least three explanations of why economic reasoning would argue that this is to be expected.
True/False: For each of the following concepts, decide whether it's true or false, and briefly explain why (2-3 sentences). You can also use diagrams if they are helpful. Each correct answer is worth.
What are some of the positive externalities of education? Why may higher education offer fewer positive externalities than primary or secondary education?
Why the price of computers dropped as their power and features has have increased?
Suppose that all other banks hold only the required amount of reserves. If Nan Bank Inc. decides to reduce its reserves to only the required amount, by how much would the economy's money supply increase?
Assume that Congress is considering imposing the 30% tariff on imported automobiles. Who would be the gainers and who would be the losers from such move?
Draw marginal revenue function for this firm. What is the profit-maximizing price for this firm? On the graph describe the area, this represents the net loss to society resulting from the monopoly power conferred by the patent.
Evaluate the range of marginal revenues
The advent of the one man bus involved more capital equipment: an automatically operated coin box and door control device - to name two of the capital goods that replaced the conductor."
Global Widgets Corp is a manufacturing company that builds standardized galvanized metal benches for sports arenas and stadiums-Do you think one of these firms would be more likely to benefit from a de-centralized decision making organizational arc..
Tom earns $15 per hour for up to 40 hours of work each week. he is paid $30 per hour for every hour in excess of 40.
Problem - Income Elasticity of Demand, Interpret the following Income Elasticities of Demand (YED) values for the following and state if the good is normal or inferior; YED= +0.5 and YED= -2.5
Find out the equilibrium market price. Find out the profits of the leader and the follower
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