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1.It is often said that a good theory is one that can be refuted by an empirical, data-oriented study. Explain why a theory that cannot be evaluated empirically is not a good theory.
2. Which of the following two statements involves positive economic analysis and which normative? How do the two kinds of analysis differ?
a. Gasoline rationing (allocating to each individual a maximum amount of gasoline that can be purchased each year) is poor social policy because it interferes with the workings of the competitive market system.
b. Gasoline rationing is a policy under which more people are made worse off than are made better off.
Determine the marginal cost for bottle of wine and what will be the reduction in number of crashes at that intersection achieved by the mayor?
Can the Farm produce 500 bushles of corn and 500 pounds of beef per year? Can the farm produce 800 bushels of corn and 1200 pounds of beef a year? What is the opportunity cost of the farm increasing beef production from 900 pounds to 1200 pounds per ..
The owner of a fast-food restaurant estimates that she can produce and sell 1,000 additional hamburgers per day by renting more automated equipment at a cost of $100 per day.
the rise of the dollar could batter the profits of some U.S. companies this year and slice into capital spending . a.which companies may have thier profits battered , and why b.why would this slice into capital spending
explain why long distance phone service was originally a natural monopoly, how did the growing number of satellites change the cost structure of the long distance phone service, why might it be efficient to have competition in long distance phone ..
Aside from humanitarian concerns,what is the one reason on nation is motivated to provivde foreign aid to a less developed country.
If the production function is Q=K^.5 L^.5 and capital is fixed at 1 unit, then the average product of labor when L=36 is?
Three machines are employed in isolated area. They each produce 2,000 units of output per month, the first requiring $20,000 in raw materials, the second $25,000, and third $28,000.
What is the average fixed cost of producing 2 units of output based on the following table:
Research the corporate-level of strategies and evaluate the business-level strategy do you believe is appropriate to offset forces in the industry for Victory Motorcycles. Research a large corporation headquartered in your home state focus on its c..
Obtain Income elasticity of demand and Calculate the quantity demanded for goods 1 and 2 at these prices and this income level.
Analyze the past, current, and future cost considerations of the company and, on the basis of your costs analysis, create a list of strategies to enhance the company's profit. In your analysis, include the following information about the various c..
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