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1. In much of the patent-racing literature, only the firm that expects to win the prize will do any research. This is not what we observe in reality. Explain.
2. How would you go about determining whether innovation and the incentives for innovation are becoming more important factors in the performance of firms and industries?
Your company has just signed a three- year non renewable contract with the city of New Orleans for earthmoving work. You are investigating the purchase of heavy construction equipment for this job. The equipment cost $200,000 and qualifies for 5 year..
Which of the following is true about income levels in Western Europe and Latin America before 1700? Average income in Western Europe was higher than that in Latin America.
What would you expect to happen to the demand for credit cards by students? What would you expect to happen to the quantity of credit cards issued to students? To the willingness of students to incur debt at the much higher rates of interest charged ..
What is the equilibrium price and quantity of apartment rentals in Lafayette? Suppose the government imposes a price ceiling of $150. What is the impact on the equilibrium outcome? Does this price ceiling necessarily increase consumer surplus? Explai..
Who of the following would be included in the Bureau of Labor Statistics "unemployed" category?
chance that she will lose her cash or have it stolen. Under these conditions, how often does Tracy go to the ATM, and how much cash does she take out each time?
Suppose that the demand for healthcare services is perfectly inelastic while the supply curve is upward sloping. Analyze the impact.
Assume re is a multiplier effect and that total crowding-out effect is $6 billion. An increase in government purchases of $10 billion will shift aggregate demand to left or right by how much.
How does the law of demand relate to the price and demand for gasoline in the United States? Does this law accurately reflect reality? Use current research, personal experiences, and economic concepts to state your response.
Define the concept of an externality. Why will unregulated market systems not allocate resources efficiently where externalities are present? Draw a diagram to illustrate the over allocation of resources to a market characterized by negative external..
Why do the United States and many other countries have antitrust laws on the books? What's so harmful about oligopoly that warrants an entire body of law?
Which of the following is a method for the Federal Reserve to control the supply of money? Open-market operations refer to the Federal Reserve: What determines the weights for calculating the Consumer Price Index?
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