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Adam Smith believes humans have the natural tendency to "truck, barter, and exchange," while Karl Polanyi directly disagrees with this claim. Explain the disagreement between these two authors and describe how their beliefs about human society inform their central theories.
An investment portfolio contains stocks of a large number of corporations. Over the last year the rates of return on these corporate stocks followed a normal distribution with mean 12.2% and standard deviation 7.2%. For what proportion of these corpo..
Katherine Lim purchased a condominium for $50, 000 in 1987. Her down payment was $20, 000. She financed the remaining amount as a $30, 000, 30-year mortgage at 7%, compounded monthly. Her monthly payments are $200. It is now 2007 (20 years later) and..
?If, in a? (two-tail) hypothesis? test, the? p-value is 0.1219?, what is your statistical decision if you test the null hypothesis at the 0.08 level of? significance? Choose the correct answer? below?
A monopolist faces a demand curve given by: P = 70 - 2Q, where P is the price of the good and Q is the quantity demanded. The marginal cost of production is constant and is equal to $6. There are no fixed costs of production. How much output shoul..
Calculate the answer, expressed as cost per life-year gained. Show your work (as much as possible) and give the answer.
Find a 2017 article on anything, for example: The Australian oil (example only) and the selected article must have two or more of the following concepts
If David's only illness this year results in an appendectomy, explain how many days will he choose to stay in the hospital.
Describe the transition from short-run to long-run equilibrium in a monopolistically competitive industry.
Consider the marginal cost for a product like Microsoft Windows 8. How does the marginal cost for a product like this differ from a product like automobiles? What relevance might there be to this difference?
Japan, one worker can make 5 tons of rubber or 80 radios. In Malaysia, one worker can make 10 tons of rubber or 40 radios. Who has the absolute advantage in the production of rubber or radios? How can you tell? Calculate the opportunity cost of produ..
Compute and indicate the area of profits on your graph. In light of your answer above, does it make sense that this firm is "maximizing profits".
Consider the production function Q = 20K1/2L1/2. The firm operates in the short run with 16 units of capital.f. If the firm produces 160 units, determine the units of labor that are employed, the average product of labor, the marginal product of labo..
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