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Question: If demand is inelastic but supply is reduced, what will happen to price? What will happen to quantity demanded? How will that affect total revenues for drug sellers?
Explain how you would assess the opportunity cost of seeing Good Times in concert. What is the opportunity cost of going to Good Times' concert?
What is a microeconomic theory that can explain the incentive problems that countries with healthcare face
Question: Economics research is more difficult than conventional sciences. Discuss four (4) reasons in support of the given statement.
After reading the article "Conducting Effective Fraud Interviews" in the resources folder, write a short paper, one or two pages in length.
Explore how consumers make economic decisions. The Condorcet Paradox and Arrow's Impossibility Theorem in the political economy.
Explain possible pitfalls for such strategy from GEH's perspective.
Sketch a production isoquant that runs through these points. Is this curve getting steeper or flatter as the amount of labor increase?
How many additional dollars of income would it take to make a nonworker give up 10 hours of leisure time?
Consider Table on "technical efficiency change." What might be some reasons explaining the negative value for South Korea? Does negative technical efficiency.
If the goal of the transit authority was to maximize total revenues, what is the new price it should set? Also, what would the total revenue raised in this new price scheme?
Discuss at least two of the U.S. Supreme Court rulings or current trends in regards death penalty and explain how they have impacted capital punishment in the United States.
Why has labor-force participation rate declined? How is it related to government programs such as unemployment insurance and welfare?
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