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Explain why income taxes were raised 200% (from 1.5, 4, and 25 percent to 5, 8, and 63 percent) by the Revenue Act of 1932, and describe the effects.
If U.K. workers wage is 30GBD per day (and fixed exchange rate is $2= 1GBD Illustrate what is upper limit to U.S. worker's wage per day.
Predatory pricing is easy to prove in a court of law. An incumbent firm may experience a learning curve that allows it to produce at a lower cost than a potential entrant. A firm receives no individual benefit from strategies that raise the marginal ..
What is their goal, and illustrate what decision criteria do they use in trying to reach that goal.
Suppose your business is currently employing 750 workers, the only variable input, at a wage rate of $48. The average product of labor is 96, the last worker added 6 units to total output, and total fixed cost is $12,000. What is Average Variable Cos..
What is the present worth of the following cash flow stream? Assume 8% interest and an initial purchase price of $30,000 is included (4 pts)
Explain what happens in the marketplace when the federal government, in response to lobbying by (small) farmers, places a floor price under a bushel of corn that is greater than the market equilibrium price;
What economic principles are relevant to the Tragedy of the Commons, and how are they relevant? Cite every economic principle you can think of that applies. Also, what factors make it difficult to manage a commons?
When the absolute value of the own price elasticity of demand is zero, demand is:
(a) What is market concentration and how can you know whether a market is concentrated or not (b) What are the causes of market concentration (c) Are business mergers good or bad for the economy Explain why
How would each of the following affect the Canadian market supply curve for corn?
Explain the relationship between MR and MC at the profit-maximizing output. Also discuss the relationship between Price and Marginal Cost and price elasticity of demand. Is this level of output economically efficient?
Define the five types of possible “net” or “overall” effects of the country’s growth on the importance of the trade sector and indicate which types would, other things equal, lead to a deterioration of the growing country’s terms of trade (assuming t..
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