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Explain the formation of the modern nation-state in the West. Why did it happen? How? What were the major forces at work? Where did it develop first and what were/are its characteristics?
Suppose you have three producers of oil A, B, and C, with extractions costs of $8, $10, and $12 per barrel of oil. Assume there are no user costs. Assume that each well can produce 100 barrels of oil per day. What will be the total marginal cost in t..
The market for DVDs has supply curve and demand curves given by P=2Qs and P=42-Qd, respectively. Calculate the equilibrium price and quantity of the DVD market. How many units will be traded at a price of $14? What participants (sellers or buyers) wi..
q.a borrower takes out a loan from a bank and can invest in a risky project that will produce revenue of 185 with
Price Sensitivity/Price discrimination A physical therapy treatment can use a high tech machine to massage patients or a certified massage therapist. If the cost of the machine per unit of service is $100 and the cost of the therapist per unit of ser..
Give two examples of externalities connected with consumption and saving that can be used in arguing for policies aimed at increasing U.S. personal saving. Explain why they can be used that way. Explain what a traditional I.R.A. is. Explain how it in..
Instead, they proposed either a subsidy that will keep the price of heating at its original level or, a subsidy for the actual desired level of heating (say, x1>x0 where x0 is the original level of fuel for heating consumption). Compare the effect..
For which two bonds would you expect to generally pay the higher interest rate, a U.S. government bond or a municipal bond with the same term and issued by a creditworthy municipality and explain why?
CompuTrip Inc. offers two softwares, Street Finder and Trip Planner, which are produced at zero marginal cost (and zero fixed costs). The market research department has estimated that there are two groups of customers of equal size that buy the two p..
How might it be possible for the unemployment rate to still increase? Provide an example, i.e., provide a scenario with numbers, to support your answer
Explain Von Thunen’s theory of differential rent based on accessibility. Consider the basic case of a single agricultural good. Be sure to make clear the key assumptions and major results. Go on to explain how the model works when there are two agric..
What is the cost of voting in an election? What is the main factor preventing a large community from influencing policy in the same way as a special interest group? Why might legislators vote to impose a tariff on Egyptian cotton, when consumers in t..
What should the government limit the number of auto and parts makers, the competition for would be limited. Please explain more on this subject.
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