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1. Describe an important trade-off and opportunity cost
2. Give an example of some action that has both a monetary and non-monetary opportunity cost
3. Describe an incentive your parents offered you in an effort to influence your behavior
Suppose that you have just purchased the security, and suddenly the market interest rate falls to 5%. What is the security worth?
What are the main arguments based on social efficiency that support having an estate tax similar to the U.S. tax before 2002? What are the main arguments against having such a tax?
Suppose, on the other hand, that the second country retaliates with an export subsidy of its own.
The kinked demand curve model can be used to explain the sticky prices n markets characterized by oligopoly. A typical kinked demand curve consists of two straight lines joined at the kink. ( a piece -wise linear where P is price (in dollars and Q is..
At alpha a equals =0.06?, is there enough evidence to support the? administrator's claim? Find the standardized test statistic? z, and its corresponding area.
When a country, say Greece, adopted the Euro as its currency, what happened to the debt that was based on the Drachma? Was it converted into Euros? National level or aggregate level data and firm-level data are self explanatory. I have seen certain p..
A firm produces output, y, by using capital k and labor L, according to the production function : y = k^a.L^b. The firm can purchase all the capital and labor it wants at prices r and w, respectively. Use the Lagrange multiplier to find Cost function..
What role, if any, do property rights (efficient or inefficient) play in designing and implementing environmental policy?
If you incur sunk costs, you are vulnerable to post-investment hold-up. Explain what this means and provide a new example (one not in any of the class materials) to illustrate.
Products become obsolete and are replaced by new goods, such as the typewriter. Draw supply and demand graphs and describe what results when this occurs.
Suppose the price elasticity of demand for farm products is inelastic. If the federal government wants to follow a policy of increasing income for farmers, what type of programs will the government enact?
"Explain why unemployment is always equal to zero in a competitive labour market with perfect information. provide two economic mechanisms to explain why we observe positive unemployment in the world when there is imperfect information"
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