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How does Rousseau and Malthus agree or disagree with Adam Smiths concept of invisible hand?
Ahmed Mustafa just turned 22 and wants to have $10,283 saved in 8 years by his 30th birthday. Assuming no additional deposits, if he currently has $6,000 in an intermediate-term bond fund earning 5%, how much will Ahmed have on his 30th birthday? Rou..
In the two countries, Techi and Aggi, the costs of all factors of production are constant, the factors are perfect substitutes for each other and thus equally productive (efficient). Currently, before trade, Techi’s residents prefer to produce and co..
The benefit of cutting down a forest is $1 million now. the environmental cost of that harvest is $10/year forever.
Calculate the probability that your friend is sick todayy OR you pass this test: P(A+B)=?
Do governments and companies in developed countries have an ethical responsibility to contribute to economic growth and social development in developing
Explain the disagreement between these two authors and describe how their beliefs about human society inform their central theories.
How can the three basic assumptions of human behavior ( people are rational, people respond to incenititives and optimal decisions are made on the margin) be called the backbone of supply and demand?
Adam Smith favours a policy of laissez faire in managing economic activities. Why? Economics deals with the efficient use of resources? Why? Marginal analysis tends to produce more optimal outcomes when working with scarce resources. How?
If a firm’s output is produced according to Q = 4LK, the price of K is $10, and the price of L is $40, what is the cost-minimising combination of K and L capable of producing 64 units of output? The cost-minimising quantity of K is? The cost-minimisi..
You run a small business that uses both capital and labor to produce your output. The machinery (capital) has a marginal cost equal to $25 per hour and a marginal product equal to 50 units per hour. The marginal cost and marginal product of capital a..
Suppose your employer offered you $4,000 in cash instead of health insurance coverage. Health insurance is excluded from state and federal income taxes (let's ignore Social Security and Medicare wage taxes for now). The cash would be subject to state..
who operates the industry as a monopoly and seeks to maximize profits from the sale of computers. Elucidate which of the following is a likely consequence of the monopolization of the industry.
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