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1. Despite the region's importance, the United States did not get drawn into a war in the Middle East during the Cold War period (1945-1989). Was the US able to protect its national interests in the region anyway? Explain your answer, using specific examples.
2. Should Ronald Reagan be considered a hero for his handling of the Cold War? Should Mikhail Gorbachev? In each case, explain why or why not, using specific examples.
3. Is there something the Soviet Union could have done differently to avoid losing the Cold War? If so, what? If not, why don't you think the Soviets understood that?
Assume that your answers to part a) represent the cost curves for a wine making firm. Illustrate and explain how each of the following affects the firm’s average total cost, average variable cost, average fixed cost and marginal cost.
Use modified accelerated cost recovery system depreciation beginning January 1. Also, assume a 35% income tax rate.
In cost-benefit analysis, the government should intervene as long as
The Profit Maximizing condition for firms facing perfect competition is 1) Marginal Revenue = Marginal Cost and 2) Marginal Cost must cut through Marginal Revenue from below. Market structure is measured in the ability to set the price of the output...
What is the best case scenario between Marginal Revenue and Total Revenue? Do we want Total Revenue to be maximized and Marginal Revenue to be equal to zero or do we want Total Revenue to be rising and Marginal Revenue to be positive?
In the absence of regulation, firm 1 would emit 15 and firm 2 would emit 20. The firms have the following marginal control costs where q1 and q2 are the amount of emissions reduced by each firm. If instead an emission permit system was established, h..
Diminishing marginal utility means that, The "invisible hand" described by Adam Smith refers to the
Argue for or against the following statement: "If we can improve the health of a wealthy person while keeping a poor person's health the same
Demand curve is d1, what will be the change in her revenue. If her demand curve is d2 what will be the change in her revenue.
if demand is perfectly elastic the demand curve is horizontal. if demand for x shifts right as the price of good y increases, then x and y are substitutes. supply shifts rightward if input prices rise. it is possible for an economy to be inside its p..
You are the manager of a firm that receives revenues of $50,000 per year from product X and $100,000 per year from product Y. The own price elasticity of demand for product X is -2, and the cross-price elasticity of demand between product Y and X is ..
Determine the federal taxes owed by LowTech and the after-tax cash revenues. (Answer: ATCF $189,200)
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