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Facial tissue is a rival good because:
A. there is a lot of competition in the facial tissue market.
B. it is a substitute good for a handkerchief.
C. one person’s use of a facial tissue reduces the ability of another person to use the same tissue.
D. it is made from natural resources.
Suppose that the most popular car dealer in your area sells 10 percent of all vehicles. If all other car dealers sell either the same number of vehicles or fewer, what is the largest value that the Herfindahl index could possibly take for car dealers..
q1. need help with a paper on economist milton friedman in discussing his economic theories and why he is important?
Assume that the labor demand equation for a fictional country is Ld = 30 – 1w, where w is the wage per hour worked. Assume also that the labor supply equation for that country is Ls = 0.5(w).
One reason for Anti-Trust laws is that economic concentration of power (Monopoly or oligopoly) comes with concentration of political power.
Many years ago, the traditional mortgage loan structure specified:
barbers who have turned farmers will drive down wage rate but will still be earning more than if y had remained barbers. Who benefits from technological progress in farming Farmers or barbers.
RTI Company’s master budget calls for production and sale of 18,000 units for $81,000; variable costs of $30,600; and fixed costs of $20,000. During the most recent period, the company incurred $32,000 of variable costs to produce and sell 20,000 uni..
Where Yp is potential GDP, Y is real GDP in billion of dollars and P is GDP deflator. By how much overall should the government expenditures change to achieve potential GDP level if MPC=0.8? Calculate the size of inflation/deflation associated with t..
Pick a state and compare it to Oklahoma’s Malpractice Caps, what are the state’s caps or limits on the amount of money that can be awarded to victims of medical malpractice cases. Give any details that tell why or how the state determined that amount..
If the U.S. interest rate differential increases, then in the foreign exchange market the
Consider an economy with two separate regions: A and B. There are 100 million workers in total who supply their labor in elastically. The demand for labor (in millions) in region A is EA = theta *100 15 wA and in region B it is .EB = theta *100 15 ..
A monopoly is considering selling several units of a homogeneous product as a single package. A typical consumer’s demand for the product is Qd = 90 - 0.25P, and the marginal cost of production is $120. Determine the optimal number of units to put in..
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