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Questions -
Q1. A professor once threw out an an awkward worded exam question and instead gave everyone the point. One of the students got mad and stated he should not be penalized because he got the question correct. "It's not fair to give everyone a free point". Using the concepts from the chapter, is this student correct? Hint: Your answer should include the term "utility".
Q2. Is it unfair if your boss randomly gives half the workers a 3% raise and the others 4% raise? Hint: Your answer should include the term "utility".
Q3. If a family member receives $100 to split with you, but they give you $20 and keep $80 is it rational to be happy? Would you think this was fair?
Are there any current subsidy or welfare issues that are being duscussed or addressed in parliament?
Why is it important to define each team member's role and responsibility? Why is it important to involve all team members in project activities, meetings, and discussions?
Is instituting a $200 fine for anyone caught littering a nudge? Suppose two parents present their 16-year-old with list of cars that they will allow him to buy.
Synthesize the primary ways in which consumer and provider incentives work together to achieve cost reduction under the Affordable Care Act (ACA). Provide at least one (1) example of such synthesis to support your response.
Best Buy stocks two types of merchandise: a private-label portable DVD player and DVD disks as a complementary good for the DVD player.
Which of the following statements applies to a purely competitive producer? An industry comprised of 40 firms, none of which has more than 3% of the total market for a differentiated product is an example of.
You are advising a coffee shop manager who wants to estimate how much sales will change if the price of a latte rises. Explain why he should measure elasticity.
The market process (the forces that bring us closer to equilibrium) is said to solve the knowledge problem. What is the knowledge problem?
Also, consider how individual households and businesses were impacted by the policy decisions. For example, if interest rates were increased.
The Myth of Public Goods by Mark Davis (2010); the Journal of Liberty - analyze this case in light of the given questions extracted
What is secular stagnation?
Identify the sales forecast for the firm. Explain the exogenous factors that you need to be aware of when developing these forecasts.
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