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Professional Sport players generally are paid much more than farmers, factory workers, engineers, and teachers. The markets for the professional sports players, farmers, factory workers, engineers and teachers are generally competitive markets. Even among professional sport players, the salaries for players in some sports are generally significantly higher than the salary in some other sports. How does this make sense using supply and demand in a market in equilibrium?
The consumption of both x1 also x2. Label income also substitution effects for both goods. Illustrate what is the implication of product differentiation in defining market structure.
Considering companies operate in their own self interest, should cartels be legal.
Suppose the USA and Canada are considering to trade. Assume there are only two goods in the economy: wheat and corn. The table below illustrates what each nation can produce in a given year.
discuss whether you agree or disagree with Chairman Bernanke's remarks on economic outlook and the role of the Fed' s monetary policy effectiveness by using unconventional policy.
Illustrate what is the cooperative surplus. $100, the cost of litigating. What would be a reasonable settlement for Betty to pay What Arthur.
Suppose that MC=4q, where MC is marginal cost. The perfectly competitive firm maximizes profits by producing 10 units of out output. At what price does it sell these units.
Using the travel cost method, evalute the annual active use value of this area to the people living in these cities.
Throughout the 1970s and 1980s, genetic engineering increased crop yields in the United States. "General Motors said Monday that it will close 14 plants, including seven in Michigan, as part of its restructuring in bankruptcy."
Characteristics of Proprietorships what percentage of sole proprietorships is engaged in retail trade? Why might more sole proprietorships be engaged in services rather than manufacturing?
Illustrate what is currently occurring to the supply also demand for labor also its effects on wages, union membership, also other labor force related topics.
You are very impressed by the first interviewee completing both phases of BK books interviewing process, and she has indicated that her reservation salary is 110,000. Should you make her an offer at that salary or continue the interviewing process..
This might be interpreted as an upward shift in the consumption function. How does this shift affect investment also the interest rate.
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