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In a criminal case, explain how the state changes the defendant, who has the burden of proof and what, is the burden of proof?
What is the marginal rate of substitution (MRS) and why does it diminish as the consumer substitutes one product for another? Use examples to illustrate.
Demand: P=30-2Q Supply: P=4Q Equilibrium Price____ Equilibrium Quantity______ Own Price Elasticity of demand Equlilbrium______ Consumer surplus________ Producer surplus__________ Same market after $6 sales Tax
Assume the market for cough syrup is in equilibrium. Now, suppose the government imposes a price ceiling that is above the original equilibrium price. Illustrate what are the economic effects of the price ceiling?
Suppose a country makes commodity A and B with capital and labour with constant returns to scale technology. When the country goes from autarky equilibrium to trade equilibrium with its trading partner, the price of A rises and price of B remains sam..
During 2007, the United States and Japan announced possible limits on Chinese imports through higher tariff rates on Chinese products. To avoid these limits, China would have to: decrease the value of the yuan and increase its trade surplus
The Sherman Anti-Trust Act. If competition decreases in a certain industry. Under perfect competition. The Clayton-Anti Trust Act
Elucidate what would you recommend as a course of action, if any. For the industry you have chosen, discuss how price moves from today to the future.
A firm in a perfectly competitive market invents a new method of production which lowers its marginal costs. Illustrate what happens to its output.
Which of the following is true under monopoly?
The perfectly competitive market structure is widely regarded as the most desirable way in which a market should operate. Please explain why economists come to this conclusion. Please also use a real world example in your explanation and use a chart/..
Which of the following occurs when a market is efficient?
In what industry will a given percentage increase in production workers result in the largest percentage increase in output.
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