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Over the past 25 years, tuition at Brockport State has been steadily rising. During the same time period, the number of students attending has also been increasing. It looks like the quantity is going up as the price increases in violation of the law of demand. What's really happening here? What nonprice determinants are responsible? Would you willing to draw a demand and supply for this education market? What is shifting and for what reason?
Discuss how does the existence of money decrease the expenses of making transactions, relative to a society based entirely on barter?
What is adverse selection? How does it harm the economic process and what is moral hazard? What are its consequences
A substantial increase in imports of apparel from China that intensively use unskilled labor has generated some unrest in import competing industries, particularly among non-college workers. If all US apparel imports were from Taiwan only, would y..
Which of the following increases the political power of special interest groups and makes counterproductive government action more likelyA car sells at different prices at different dealerships in a local market. If a consumer has imperfect informa..
Use a diagram to show consumer surplus price of 8.00and production of 6 million meals per day. If price remain at 8.00but production were cut to 3 million meals per day.
Suppose you are able bodied and intelligent, but lazy. You would rather sit home and watch tv than work, even though you know you could find an acceptable job if you looked. a. Are you officially unemployed b. Are you a discourage worker
What do economists mean when they refer to "economies of scale" Why do economies of scale exist in the context of hospital services Does this mean a hospital market comprised of a few large hospitals is preferable to a hospital market comprised of..
Find Livia's best affordable bundle of tea and coffee. How does the equilibrium condition differ from the condition we derived in lecture for the "typical" case? How much could the price of a cup of coffee risewithout harming her standard of livin..
Country B Apples=36 Bananas=15 1. Calculate the pretrade relative price of Apples in terms of Bananas. Relative price of Bananas 2. Which country has a compartive advantage in Apples ANd in Bananas
The price of MP4 players has been going down in the past decade. Give an explanation for this consistent drop in the price of MP4 players. Use the model for long run competitive firm to illustrate your answer. Draw two graphs. One is to show the ..
Why is there a limit to capital deepening? What roll does government play in economic growth? Why might education, foreign aid, infusion of new machinery, and efforts to stem population growth not imroved the standard of living in a lot of develop..
Discuss industry concentration, demand and market conditions, and the pricing behavior of Kodak in the 1990s. Do you think the industry environment is significantly different today? Explain.
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