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What did OPEC do (or could have done) to effectively eliminate or control creative destruction?
Sole is avoiding paying a fairly high price to retain the money owed shoe manufacturers. What would have been the effective annual after-tax interest rate?
Barb age 25, files as a single taxpayer. She is employed at a monthly salary of $2,150. She claims no dependents. Her employer withheld $1,600 from her wages for income taxes for 12 months' of work. Compute of Barb’s income tax due to or from the IRS..
If the government sets a maximum price for gasoline above the equilibrium price,
Suppose that the demand for orange increases. Carefully explain how the rationing function of price will restore market equilibrium.
Using the simple household model C=[C(0)]+[C(1)]*(Y-t), assume that C(0) is $1000, taxes are $100, and C(1) is .5. What would be the impact on consumption spending if household incomes were to rise by $500? (Ignore the multiplier effects here.) What ..
Consider a market with a demand curve of P=10-Q and a supply curve of P=Q. Before the imposition of a tax, equilibrium quantity is 5, and equilibrium price is $5 (verify this). If a tax of $5 per unit is placed on this market, quantity traded falls t..
If fixed costs are $70, what is the profit at the optimal output level? Please specify your answer as an integer.
Explain the law of supply. Why does the supply curve slope upward? How is the market supply curve derived from the supply curves of individual producers?
Who are the major decision makers (list them) in the US Economy and describe fully the role that each plays in our economy.
Data for a new product that is very labor intensive introduced by Hicks Brothers in the operation in Hendersonville, TN is given below. The average labor cost including overhead expenses is about $20 per hour. Time for the very first unit = 9 hours T..
q1. assume you are the chief economic advisor to the president of the united states and the president has asked you to
Elizabeth just cannot live the pirate life and keep that drop-dead gorgeous complexion witheut regular spa visits. She can go to the Montego Bay Retreat for a mud facial that lasts seven weeks, costing $91, or visit the crater of Mount Pelee for a la..
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