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Question: Carefully explain what is meant by transitional inefficiencies? A few possible sources of transitional inefficiencies were noted in the text. Can you list two or three other sources of such inefficiencies in less-developed economies? Why are these called "transitional" inefficiencies and not just "inefficiencies"?
Do unions engage in ethical behavior? Please explain. Provide specific examples. Historically, what factors precipitated the formation of unions? Please explain. Provide specific examples.
Production is accompanied by significant spillover costs. The government produces valuable goods and services at a low cost. The cost of living is lower in the country than is typical in the world.
Kellogg Company (you know them as Kellogg's, makers of Rice Krispies, Corn Flakes, and a variety of other cold cereal products) celebrated its 100th anniversary a few years ago in 2006. As with many companies, it has attempted to expand internatio..
Calculate the short-run and long-run cross price elasticities with respect to Py(see p. 28 and p. 30 in the notes). What type of goods are X and Y with respect to these elasticities?
Analyze the current market conditions of the Home Depot. Include the history of the Home Depot, the market in which it operates role of government regulations of firm and any issues that the Home Depot faces.
Use spread sheet to find total revenue
Draw a (standard) U-shaped SAC curve, U-shaped SAVC curve, and upward sloping SMC curve for a perfectly competitive firm. Indicate the firm’s short-run supply curve. What will be the effect of an increase in fixed costs on the firm’s supply curve and..
consider a monopolistically competitive market with n firms. each firms business opportunities are described by the
Using concepts we have discussed in class, discuss the effect of having a minimum wage. The minimum wage raises workers’ wage above the equilibrium wage.
In macroeconomics, game theory focuses on the strategic interactions between which of the following groups of agents?
Are there, in general, any problems with the application of cointegration techniques to money supply functions, or with the interpretation of estimates? Can these estimates be relied upon? Discuss.
What choices does society make when the government spends tax dollars? What exactly is being obtained and at what cost to society? What is forgone when the choices are made?
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