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Q1. A concrete operational thinker and a formal operational thinker are giving the following logical statements: 1.If you drop a 20-pound bowling ball on your foot,it will tickle. 2. You drop a 20-pound a 20-pound bowling ball on your foot. What reaction would you expect?
Q2. Explain the paradox of why new cars usually lose a large fraction of their market value the moment they are driven from the showroom. Identify the economic principle that explains this paradox. Why might bad cars drive good cars out of the used-car market? Give at least two possible solutions to resolve this paradox.
Gains from trade will result if a country specializes.
What, how and for who apply to the following the economic decision. Should the company makes its own spare parts or buy them from an outside vendor.
A firm that finds it extremely expensive to monitor the output of each worker will likely pay its workers
Determine the quantity demanded, the quantity supplied, and the magnitude
This is an essay question, but I don't know how to explain. Should I use the supply-demand curve to explain, or use the marginal cost- marginal revenue curve to explain this question.
The Coca-Cola Company has 40% of the cola market. Determine the probability that a sample proportion
Find the equilibrium price and quantity algebraically. If tourists decide they do not really like T-shirts that much, which of the following might be the new demand curve.
The licorice industry is competitive. Each firm produes 2 million strings of licorice every year. Total cost of strings have an average.
Bob consumes two commodities: x and y. For what values of py will Bob buy y, and for what values of py will Bob buy only x?
Flora's Flowers operates in a perfectly competitive market. At the point where marginal cost equals marginal revenue.
James earned $10,000 in income in his new job in Nova Scotia after the move and his employer paid him $1,000 specifically to cover the cost of the move, but doesn't specify what it can be used for.
Representatives were to logroll (trade votes) to get their preferred policy to pass, what would be the result. What are the total benefits from each project.
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