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Answer the following questions with a brief explanation (a couple of sentences is fine).
(a) Consider our two-person, two-good general equilibrium model with production.Explain why an allocation of resources with MRSA = MRSB > MRT would notbe efficient.
(b) Economists usually view utility as an ordinal concept (ie. we can't make interpersonalcomparisons of utility, and the utility numbers themselves are just "ranks"- not a measure of happiness). Can this viewpoint be maintained if we want totake social welfare functions seriously?
(c) If a good that costs $1 to produce is sold for $2, what is lost and who loses?
What will the inflation rate be?
1.What are the different modes of entry into China? Briefly discuss each entry mode and the associated risks.
a 7 coupon bond issued by the state of new york sells for 1000 and thus provides a 7 yield to maturity. for an investor
The relationship between the less- developed- countries and the developed countries in the evolution of international trade has always been a bit strained. Discuss this relationship, including policies adopted and /or advocated by each group to "help..
Why do we use this notion in economics? How does it come into play in economic decision making? Please explain and elaborate.
the kinked-demand schedule that an oligopolist believes confronts the firm is given in the table below. compute the
Why do cities exist? Why don't we all just live on large lots of land in Texas/rural Ontario/etc? We could be self-sufficient and avoid all the hassles of city life.
In the aggregate expenditures model, if aggregate expenditures exceed real GDP, the economy will:
Frank was willing to contribute $40 this year to his local public television station. However, after learning that the television station had already met its goal of raising $400,000, he decided not to contribute because he knew he could watch public..
Ethical issues that impact the company's decisions.
Give five examples of how would you define social entrepreneurship? Give five examples of how technology is helping alleviate poverty in the developing world? 1000 words.
The RAND (short for "research and development") Corporation is a think tank located on 15 prime acres of seaside property in the center of Santa Monica, California. RAND purchased the land for its offices from the city in 1952 for $250,000.
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