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How is hazardous waste managed by countries other than the United States? Provide an example of a country with good hazardous waste management techniques and one with poor techniques.
Explain why the marginal cost curve must cross the average cost curve at the minimum of the average cost. Derive the short run average cost, marginal cost, and average variable cost functions. (Hint: Before you start, what is the output if L = 0?)
Illustrate what was the value of the government expenditure multiplier. What was the value of the tax multiplier.
Who is hurt and who is helped by an increase in the legal minimum wage? Under what circumstances might a higher minimum not reduce employment?
From institution-based and resource-based views, identify the liability of foreigners confronting MNEs from emerging economies interested in expanding overseas. How can such firms overcome them?
Two equal-sized newspapers have overlap circulation of 10% (10% of the subscribers subscribe to both newspapers). Advertisers are willing to pay $10 to advertise in one newspaper but only $19 to advertise in both, because they’re unwilling to pay twi..
Total revenue is calculated as the quantity of a good or service sold multiplied by its market price. Thus, it is a measure of how much money a company makes from selling its product. The core objective of a firm is maximizing profit.
What is being assumed about the timing of wage setting and price setting that enables us to say that the economy is always on the PS curve but only on the WS curve in a medium-run equilibrium? What timing assumptions would deliver the result that the..
What arguments can be made for charging a lower than the profit-maximizing price. What price from the available prices do you recommend.
Consider the following functions: Qd = -2P + 80 and Qs = P - 10. Further assume that the government has institutes a price floor of $33 in this market. Calculate the amount of consumer and producer surplus in the market before the price floor is put ..
Suppose the government of Washington is considering the addition of a new tax on firms. You have been called in to provide expert analysis on how such a tax would affect employment of labor. There are 3 proposals the government is considering:
Compute the utility and MRS of C and F prior to exchange. Based on these MRS values, can C and F gain from exchange? If so, briefly explain how they would exchange.
The price of beer rose by 6%, the price of pizza rose by 2.7% and the price of chocolate did not rise at all. Also, suppose that beer preresents 8 percent of the economy and pizza represent 31 percent. Chocolate is the rest of the economy. What was t..
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