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Explain what is allocative and technical inefficiency, why does it occur under monopoly, and why are they undesirable from society's standpoint. Explain why and how the price discrimination benefits and/or hurts the: 1) Monopolist; 2) Consumer; 3) Society.
In The Theory of the Leisure Class by Thorstein Veblen. What does it tell about the period in which the writer composed it? What purpose does the document have regarding the nature of econmonics and the meaning of leisure, and how does the author def..
How is the fact that more low-income families are sending daughters, rather than sons, to college likely affecting the female income gap in the future? Why do you think economists argue that the female wage gap will not entirely disappear unless wome..
Suppose that the demand for orange increases. Carefully explain how the rationing function of price will restore market equilibrium.
In the typical signalling model, it is assumed that the costs of acquiring an education are higher for low-ability than for high-ability workers. Suppose that the government steps in and subsidizes low-ability workers for the higher costs they incur ..
Suppose the Fed announced that they planned to keep short run interest rates low for a period of two years. This year, the 1 year USTS zero coupon bond interest rate is i = 0.0025 and next year the interest rate on a 1 year zero Coupon bond is expect..
q1. michael porter mentions two strategy options for competing the differentiation approach and the cost leadership
To decrease the money supply, the Fed can. What is the Herfindal index industry in which one firm has a 20 percent share of the market and eight other firms each have a 10 percent share? Aggregate concentration is a concept that applies to _____.
Please decide whether each of the follow scenarios related to the loanable funds market will result in a shift in supply or a shift in demand. China decides to reduce its capital investment in the United States as it expects low returns do to a weak ..
Is Deflation Good for Workers? Why or why not? Why do you think deflation can be bad for the economy? What is the impact of deflation on the economy and monetary policy?
All of the following are ideas that Marx felt would carve inroads into the rights of property EXCEPT:
If a country's central bank adopts an expansionary monetary policy, which of the following is most likely to be the effect of such as policy, all other factors remaining unchanged? (Please give a brief explanation for your choice.)
What role do banks have in the process of creating money? Explain how a decrease in the reserve-deposit ratio affects the level of money supply. What is the textbook version of OkunÆs Law? What are the difficulties associated with estimating this ve..
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