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The increase in prescription drugs cost, increases the drug companies profit. Should there be restrictions to lower consumer cost and how much of their profit should be reinvested into research and development?
Describe the benefits and risks entailed with an experimental approach to regression analysis.
Now that we have learned that the Short-Run Phillips Curve (SRPC) shows the trade off between inflation and unemployment at the given natural unemployment rate and expected inflation rate, discuss which is worse, too much inflation or too much unempl..
Assume an economy is closed. According to classical economic theory, explain what will be the long run effects of an increase in taxes. You may want to organize your answer around these three parts: A) Aggregate Supply/Output (includes a discussion o..
Prove that if the weak preference ranking R is transitive then the corresponding strict preference ranking P (using the definitions we gave in class; this is always understood whenever we are talking about indifference and strict preference) is also ..
Assume that labor demand for low-skilled workers in the United States is: w = 24 – 0.1E where E is the number of workers (in millions) and w is the hourly wage. Assume there are currently 120 million domestic U.S. low-skilled workers who supply labor..
q1. explain what does the axiom of strict convexity of involve about preferences? also clarify in words as well as
1. Explain the principle behind hiring decision of different factors by firms with examples.
The George Washington Bridge in New York City has two decks, the upper and the lower deck. Thousands of commuters into and out of New York City have to choose between them every day. Analyze this as an N-person game. Keep in mind that in this case, t..
Many would argue that Uber has carved out a unique strategic position for itself. Would you agree?
Using the assumptions of Perfect Competition, explain how such firms earn no economic profit in the long run. How does perfect competition result in the best outcomes from both consumers and producers?
If the marginal cost is $1 and the market demand curve is P(Q) = 2000 - Q. Find the quantity produced by each firm and the market price.
q1. assume the following data for a country total population population under 16years age of institutionalized 120 not
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