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Express and Implied-in-Fact Contracts
a. Using an instance in which you bought or sold something in the last week describe the terms of an express contract that might arise between the supplier and the seller.
b. When would an implied-in-fact contract arise between the seller and a buyer?
When the Fed sells T-bills, Which of the following statements relating Fedwire (the Federal Reserve’s payment system) and CHIPS (the modern equivalent of the New York Clearinghouse Association’s system) is false? The effective federal funds rate is s..
Graph the following statements using demand curves only, elucidate how whether there is a change in demand
Elle preferences over apples (A) and bananas (B) are represented by the Cobb-Douglas utility function; What are the optimality conditions? Explain. Derive her individual demand curves for apples and bananas as functions of the prices and income.
In the world of electronics overtime people realized the immense use of having a personal laptop. And at the same time the technology has improved significantly in last decade. In fact the technological improvement has surpassed the increase in willi..
Suppose you can collect country level trade flows and GDP data. Explain how can you verify monopolistic competition model with data. Illustrate what do you expect is impact of transportation costs.
The Einstein Bagel Corp. has used a frequent buyer program whereby a consumer receives a stamp each time she purchases one dozen bagels for $6. After a consumer accrues 10 stamps, she receives one dozen bagels free. If the opportunity set has any kin..
What is the short-run market supply curve? Determine the short-run equilibrium price and quantity in this industry.
Suppose that the government levies a tax on oil companies equal to a proportion of the value of the company’s oil reserves. (The government assures the firms that the tax is for one time only.) According to the neoclassical model, what effect will th..
Elucidate " "Clearly explain the factors to consider as your "fixed factor" and alternative short term and long-term decisions. Submit your analysis in a one to three page paper. "
Compare and contrast the views of Easterly and Banerjee and Duflo on the relationship between governance and economic development. Which do you find most persuasive? Explain your answer.
To what extent have advanced and accessible digital technologies, such as websites, digital photography, and YouTube, changed the relationship between art and technology? Are these technologies reshaping our attitudes toward artists?
Diseconomies of scale exist whenever long-run average costs:
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