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1. List five ways you are affected on a daily basis by government intervention in the market. For what reason might government be involved? Is that reason justified?
2. Would a high tax on oil significantly reduce the total amount of pollution in the environment?
Explain each of primary methods used for setting value, describing its applications, strengths and weaknesses, show the formula and compute an example for each method.
The Wilson Company's marketing manager has determined that the price elasticity of demand for its product equals -2.2. According to studies he carried out, the relationship between the amount spent by the firm on advertisin
Suppose a cup of coffee at the campus coffee shop is $2.50 and a cup of hot tea is $1.25. Suppose a student's beverage budget is $20 per week. What is the algebraic expression of the budget?
Personnel work at the site on the monthly basis. Suppose that three steel erectors are on the site in February and three steel erectors must be on site in September.
Determine the free trade equilibrium. Then calculate and graph the following effects of an import quota that limits imports to 50 bags.
Why might it help to supplement national income data with other indices of quality of life in such countries? What other indices might be used?
a construction company is considering procuring one of two types of heavy construction equipment a and b. each type of
Suppose you mange a firm with two production plants. The marginal product of labor at plant 1 is MP1 = 1400 - L1 where L1 is the number of workers employed in plant 1. The marginal product of labor at plant 2 is MP2 = 2000 - L2
Assume that the supply curve for popcorn is determined by the following: Qs=12Pp. Assume further that today's price of nachos is $6 per serving and of candy is $4 per bag. Determine the equilibrium quantity exchanged and price of popcorn.
while costs are expected to increase from $20,000 in year 1 by $10,000 each year. If there is no salvage value at the end of 5 years, what is the annual equivalent worth of the project assuming a MARR of 12%
Provide an argument to establish that the optimal allocation must be Pareto-ancient. What assumptions have you placed upon the social welfare function?
The companies expect to invest $120 million upfront to set up the new unit. HoosierMaker expects to garner revenue of $9.5 million each year and spend $1.3 million a year in costs, over the next 7 years. What is the future worth of this investment..
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