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Question 1.
Explain, using your own example, why two political parties converge to the policy position of the "median" voter when competing with one another for votes in an electoral contest decided by majority rule.
Question 2.
Explain why a second-price (Vickrey) auction guarantees that bidders reveal their true valuation of an item.
You have been appointed by Interpol - The International Criminal Police Organisation - to manage an international team to produce a high-level report on global
Why are investors interested in eurodollar interest rate futures and/or interest rate options? How do these instruments relate to financial risk? How might they be used in conjunction with exchange rate derivatives?
A 5-star hotel group has successfully positioned itself as the business travellers 'preferred chain. The group plans to initiate sales promotion scheme to achie
1. What do we mean by Productive Efficiency and what do we mean by Allocative Efficiency?
As human beings living on planet earth, we have shared environmental resources which can be referred to as "commons." No one owns these "commons" it is just exp
In each case, sketch what happens to the demand and/or supply curves and, as result, what happens to the equilibrium price.
CPI (consumer price index)- for Medical supply X (15%) The price of Medical supply X in year 2020 is $80, in Year 1982-1984 is $30.
A firm faces the following demand and cost functions: P = 23 - 0.6q AVC = 3 + 0.4q AFC = 40q -1 (a) Calculate the output that minimizes Average Cost.
The BRICS (Brazil, Russia, India, China, and South Africa) nations are increasingly important in international business. Provide a comprehensive description of the economy of each of these nations and identify reasons why the BRICS countries are grow..
Presently, boats rent for $500 per day also workers cost $100 per day. How many workers do you need to produce 200 tons of shrimp?
Suppose the market for jelly is perfectly competitive. The equilibrium price of jelly is $4.00, and the equilibrium quantity is 30. The government imposes a per-unit tax of $1.00, paid by the producers of jelly. Draw two sets of identical price-quant..
Maintenance costs for a small bridge with an expected 50-year life are estimated to be $1,000 each year for the first five years, followed by a $10,000 expenditure in year 15 and a $10,000 expenditure in the year 30. If I = 10% per year, what is the ..
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