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Scotland has introduced price floors on alcohol as a public health measure. Higher price levels will lower sales, which would seem to hurt producers. If you were a producer in Scotland, would you necessarily be against this proposal?
If we select 7 colleges from a major and then record whether they are of 'School Type' 'Private' or not, is this experiment a binomial one? Why or why not?
Consider a supply chain for an organization you are familiar with.
Dusty derives utility from 3 goods: music (M), wine (W), and cheese (C). His utility function is given by: u(M,W,C) = M + 2W + C. Show that Dusty’s MRS of wine for cheese is constant for all values of W and C on the indifference curves calculated in ..
What is the cost-effective pollution level for each plant if total pollution must equal 100? Suppose the city government knows marginal reduction costs at the two plants. In this case, could the city obtain cost-effective pollution reduction using a ..
Why are barriers to entry essential for a monopoly to exist? Please use one reference.
Explain in words why an employer would never want to stop increasing the quantity of labor employed when the marginal product is above the average product of labor.
Due to the guarantee, the firm can borrow $50 million for five years at 8 percent interest rate per year instead of 10 percent per year.
Money market funds are yielding almost nothing. Last month, the interest rate on a money market fund averaged 0.08% a year and on 5-year CDs it was 2.6% a year. The inflation rate was 0.1% a year. Calculate the real interest rate on each of these fin..
21st century insurance offers mail-order auto mobile insurance to preferred risk drivers in the Los Angeles area.
Why do so many members of Congress believe that the federal government should subsidize local projects, such as improvements in bus or subway systems in major cities?
There exists a debate among monetary policymakers as to the appropriate inflation measure that should be used to guide policies. Four alternatives are the consumer price index, the consumer price index excluding food and energy prices, the personal c..
Suppose that the production function faced by a baseball footwear producer i given by Q=4K^0.5L^0.5, where MPk=2K^-0.5L^0.5 and MPl=2K^0.5L^-0.5. Do both labor and capital display diminishing marginal products? Does the production function display a ..
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