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Should the Government increase, decrease or remain the same in its level of intervention when it comes to mandating that companies provide product information to consumers? What happened to "caveat emptor" (buyer beware)?
Can you think of examples where the government does not intervene enough when it comes to consumer safety and product information? Examples where too much intervention is the case?
How can consumers become better educated about the products they are considering for purchase? To what extent do you personally go to acquire the best information available?
Assume that every citizen of country X has the utility function of u(x, y) = 5x+4y. Say that x denotes cigarettes and y denotes alcohol. The government of country X receives revenue from alcohol and cigarrete purchases but wants to curb alcohol co..
The utility function is U = U (X, Y) If the 2nd derivative for both x and y is greater then 0, does that mean the indifference curves are both convex? Explain why or why not.
Following are observations on the market price and the quantity of good X produced and consumed in three different years: $10 and 100 units, $4 and 57 units, and $8 and 88 units. Can we conclude that the market demand for X slopes upward
Define the barriers to entry into an industry. Describe how each barrier can foster either monopoly or oligopoly. Which barriers, if any, do you feel give rise to monopoly that is socially justifiable?
Mutual funds: Provide another source for borrowers to take out a home mortgage. Provide another source for borrowers to take out a home mortgage.
Determine the firm's minimum cost of making unit of output and the wage is €1 per hour and the capital rental charge is €1 per hour.
Why is an oligopolist more likely to be able to earn a profit in the long run compared to a monopolistic competitive firm Describe the Diamond-Water paradox and the solution Explain why price is greater than marginal revenue for a single-price
Assume there are two services offered in economy: dance clubs and college education. Both require the use of limited resources, but not all of the resources used in each one can be readily transferred to the other.
ach sales manager then decides how to divide the cars among the independently owned dealerships in the region. Because of high demand for these cars, dealerships all want to receive as many cars as they can from the regional manager.
What is the marginal revenue for hiring a worker for the 1 st hour? For the 2 nd hour and determine how many hours Eva should extend her bakery's hours of operations.
Explain why the short-run aggregate supply curve is not vertical, but the long-run aggregate supply curve is vertical.
What distinguishes Buddhist economics from modern economics in its approach to material wealth? To natural resources? With which approach are you more sympathetic and why?
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