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Jean-Baptiste Say argued that entrepreneurs should be called the fourth factor of production because they A. organize the other factors and make things happen. B. have historically been successful. C. are motivated by the desire to make a profit. D. can overcome scarcity by new choices.
1. Why might federal spending on roads, waterways, or national security be less subject to direct expenditure off sets than spending on health care or education 2. What might account for the fact that estimates of effect time lags for fiscal polic..
How many units of phosphorus will these two firms emit if the phosphorus emissions are left unregulated? What is the socially optimal level of phosphorus emissions in the river?
How does industry-level price elasticity of demand shape the opportunities for making profit in an industry? How does the firm-level price elasticity of demand shape the opportunities for making profit in an industry?
Honda uses flexible plans in the manufacturing of its cars. Discuss whether this method of production results in optimum output.
Sunrise Surf Shop is willing to produce 30 surfboards in the month if it can sell each board for $300. If it can receive $500 for each board, the shop is willing to manufacture 70 surfboards.
How does the U.S. department of agriculture calculate the official poverty level? What government assistance programs does the census bureau consider when calculating household income? What programs are ignored?
Instead of asking for a price, you offer to give them the product in exchange for 50% of their cost savings. Describe the information asymmetry, the adverse selection problem, and why soft selling is a successful signal.
Assume that a union's target is to maximize total wage income received by union workers, namely, the average union wage times the number of union workers employed.
ention each account affected and the appropriate amount. Also, assuming your bank lends out money to the extent allowed by law, how much will the money supply grow beyond the initial $100,000 deposit?
During the past year, the average price of lots along Lake Michigan in Carol Beach rose from $2,500 to $3,000 per foot of lake front. At the same time, sales of new homes located off the Lake rose from 40 to 70 units. Calculate the cross elastici..
Health care. This, of course, is a huge economic issue now with the attempted startup of Obama care. In your analysis here do not focus on the software issues. Those are technical problems and, granted, the system failed two weeks before releas..
The box industry was perfectly competitive. The lowest point on long run average cost curve of each of identical box producers was dollar four, and this minimum point occurred at an output of 1,000 boxes every month.
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