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Question
How is much of the content that we use on the internet similar to public goods? How different? Should policymakers be concerned that some content is being undersupplied?
Excess cream cheese or excess bagels do not add to Naomi's utility. Explain the nature of Naomi's utility function and indicate the form of her indifference
1. Voting for the government to institute a price below market equilibrium, the price ceiling, is a great way to get more gas to people for less money.
What are the usual market approaches (supported by traditional banking) that one can adapt to for societal value creation?
Canada increased from 7,500 kg per month to 8,000 kg per month. Use calculated elasticity to comment on substitutability or complementarity of coffee and tea
What are the limits to U.S. long-term economic growth? Is there anything that our government can do to address these limits, or would it be a bad idea to try?
Respond to the following ideas from the perspective of your representative. Utilize specific quotes, policy positions etc., to the degree possible:
What is liberty? Provide a definition and at least one example. Why does it matter? Explain what you think the citizens of a nation might gain or lose through their liberty.
Back up your answers/remarks with quotations from the book Common Sense Econmomics, other written sources, the Internet, and scripture.
An investment pays $2,100 per year for the first 3 years, $4,200 per year for the next 8 years, and $6,300 per year the following 12 years (all payments are at the end of each year). If the discount rate is 8.75% compounding quarterly, what is the fa..
According to the permanent income hypothesis, how will the paths of borrowing and consumption change in response to: A temporary decrease in income when it occurs.
Gomez runs a small pottery firm. He hires one helper at $15,500 per year, pays annual rent of $5,500 for his shop, and spends $21,000 per year on materials. He has $40,000 of his own funds invested in equipment (pottery wheels, kilns, and so forth) t..
Consider the following situation. An individual may decide to pay taxes of $1200 or evade them. Assume that if the individual evades taxes and is audited, he pays a fine of $350, in addition to back taxes. Set up the strategic form (payoff table), w..
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