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The United States currently has an “opt-in” system for organ donations from the deceased. People must explicitly choose postmortem donation ahead of time (as when they obtain their driver’s license). Many other nations have “opt-out” systems: A desire to donate postmortem is presumed to exist unless an individual explicitly chooses ahead of time not to permit donation. How, if at all, would a shift to an opt-out system likely change the supply of cadaveric (postmortem) donations?
The stock is now selling at $62.50 per share. If the current price holds until the first of the month, and Sam exercises his option, how much will he make this year?
Briefly discuss the two problems that arise when considering the resource use in travel and tourism. Why are the rewards for resource use in tourism often low? List and discuss various reasons.
Suppose the own price elasticity of market demand for retail gasoline is -0.8, the Rothschild index is 0.5, and a typical gasoline retailer enjoys sales of $1,500,000 annually. What is the price elasticity of demand for a representative gasoline reta..
If the price level remains constant by Explain how more will real output increase.
Intra-industry trade may be associated with a smoother adjustment process than inter-industry trade because
Suppose that Shelly's preferences for consumption and leisure can be expressed as u(c ,l)=(c-200)×(l-80). Calculate her utility, u0 , if she consumes c = $360 and enjoys l = 110 hours of leisure per week. Evaluate her marginal utilities of consumptio..
Consider the statement, “Monopoly power comes from market acceptance, not from a patent, a prettier product, a slick advertising campaign, or anything else. So rather than spend your time in court, you should be out there drumming up business.” Do yo..
A product that sells today for $100 per unit is expected to escalate in price by 6% in year one, 8% in year two and 10% in year three. Calculate the escalated dollar year three product selling price. If inflation is expected to be 5% in year one, 9% ..
Explain how are the gains from trade shared among the parties to a trade. Is it possible for specialization and trade to increase total output of traded goods.
A monopoly producing a chip at a marginal cost of $6 per unit faces a demand elasticity of ?2.5. Which price should it charge to optimize its profits?
Look at the graph of the market for loanable funds found below and answer the following questions: At which interest rate will there be an excess supply of money? What does this mean? At this rate, what is the demand for money? What is the supply?
What is the equilibrium output and price level? If aggregate demand shifts right, what is equilibrium output? If aggregate demand shifts left, what is equilibrium output?
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