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1. Which of the following is NOT a general function of law
A. Facilitating orderly change
B. keeping the peace
C. shaping moral standard
D. encouraging individual justice
E. maintaining the status quo
2. An official notice that the us supreme court will hear a case is called
A. a writ of certiorari
B. a petition of certiorari
Assume that the benefits and costs of infrastructure improvements are for one time only - i.e., ignore all long run implications. What are benefits and costs of infrastructure improvements.
Consider a Cournot duopoly with the inverse demand p = 130 - Q. Both firms have constant marginal and average cost MC = AC = 10. Find the Cournot-Nash equilibrium output and profit of each firm. Calculate the con-sumer surplus and DWL.
Suppose that the supply curve of healthcare services is perfectly inelastic. Analyze the impact of an increase in consumer.
A firm sells its product in a perfectly competitive market where or firms charge a price of $80 per unit. Illustrate what price should firm charge in short run.
Draw a production possibilities frontier for the production of corn and steel, identifying the efficient points, feasible points, and infeasible points. Illustrate and explain increasing opportunity cost.
Explain what the GDP cost index is and what is its role in differentiating nominal GDP and real GDP.
q. assume that all young women were channeled into careers as secretaries nurses as well as teachers at the same time
Illustrate what does such a combination mean to this economy. Explain in detail being sure to discuss such a combination relative to resource utilization and efficiency.
q1. compare the unemployment rate in new mexico to the national average of the past four 4 years. compare the trends in
Demand for a good is Qd = 20,000, 100 P. Supply is Qs = -1000 + 200 P. a. Find Q*, P*, consumer surplus, producer surplus, and total variable costs. Make a graph and label it. b. What is the elasticity of supply at the solution point? What is the ela..
Explain Veblen's theory of the leisure class. Explain why the leisure class is not overthrown and how conspicuous consumption plays a role in Veblen's theory.
Law of demand does not hold since attendance at the major league parks has dropped while at the same time ticket prices have fallen.
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