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Alex bought a chain of salons and spas. He invested his wealth and time to enhance the salons with full-service bars, child care for employees and guests, and premium furniture. Since other salons and spas in the area are not offering these types of amenities, he expects this innovation will result in a profit. Alex is a(n)
1) What is the economizing problem? 2) What is subjective valuation?
Explain what the terms of trade are in international trade. What is the exchange rate in international trade? What is the difference between a tariff and an import quota? Do you believe the United States should impose international trade restrictions..
Explain the meaning of the term elasticity. Use your results to report the elasticity of output with respect to changes in capital.
Assume you are an instructor of a college macroeconomics course. Using the Mitra Kalita (2011) article as a basis, compare and contrast the concepts of consumption, investment, and net exports in a PowerPoint presentation for your students. What impa..
What are the causes for poverty? What are the effects of poverty for women, youth,urban , rural and ngo?
Suppose you have a demand function given by: Q = 600 ? 0.5P. What is the price at which demand elasticity is Ed = ? 2? Hint: Instead of using price to find elasticity, you will now have to use elasticity to find price. You can use the point elasticit..
Suppose the price elasticity of demand for heating oil is .2 in the short run and .7 in the long run. Use mid-point methods in A and B and show your work. A) If the price of heating oil rises from $1.80 to $2.20 per gallon, what happens to the quanti..
Why do classical economists and Keynesian economists agree on the long-run effects of a fall in aggregate demand but not on the short-run effects?
Suppose the U.S. dollar-New Zealand dollar exchange rate, E$/NZ, is equal to .8, and the U.S.dollar-Malaysia ringgit exchange rate, E$/Malaysia, is .5. Accordin
A profit-maximizing firm in a competitive market is currrently producing 100 units of output. Elucidate firm's profits, marginal cost, and average variable cost respectively.
Do you think that all professional sports should share baseball's exemption from antitrust laws or that baseball should lose its exemption?
Suppose the following data describe output in two different years:
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