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In France, it is law that portable listening devices must have a maximum output level of 100 decibels. Apple was forced to change the output of its iPods sold to France as their output exceeded 100 decibels. What negative consumption externality were the French Policy makers concerned when passing the law on maximum decibel levels?
Describe why the demand curve facing a monopolist is less elastic than one facing a firm that operates in a monopolistically competitive market.
The price of some stock today is $300. Assume that the stock's value in one year is a random variable X with the following probability distribution: P(x=400)=0.1; P(x=350)=0.4; P(x=300)=0.3; P(x=270)=0.2.
Making dresses is a labour-intensive process. Indeed, the production function of a dress-making firm is well described by the equation Q = L - L 2 /800, where Q denotes the number of dresses per week and L is the number of labour-hours per week.
Suppose you have $2000 in currency in a shoebox in your closet. One day, you decide to deposit the money in a checking account. How will this action affect the M1 and M2 definitions of the money supply?
Assume that the following table describes prices, incomes, and every person lobster consumption in three U.S. cities.
Two ways in which sectionalism caused conflict or tension in the United States during the early 1800s.and explain how sectionalism affects economics and politics in the United States today.
A news magazine offers students a discount on the regular subscription rate. The total number of subscriptions is optimal, and, at the current prices, the marginal revenue from the last subscription sold to a student is $6, while the marginal reve..
Think about a product that you have purchased recently (e.g. soda, diapers, takeout meals, milk, shoes, manicure/pedicure, video game, etc.). Explain how the law of demand affected your purchase. Give specific examples of how the determinants of d..
The Bureau of Labor Statistics announced that in February 2008, of all adult Americans, 145, 999,000 was employed, 7,381,000 were unemployed, and 79,436,000 were not in labor force.
Consider the relationship between age and race. List and describe at least two (2) of the demographic trends and health characteristics of the elderly based on racial differences. What are the implications for the future health care for the elderl..
Using the Internet, library, or other resources, research and briefly explain 2-3 methods currently being used to encourage economic growth for the typical firm in Hong Kong and for the typical firm in Singapore.
Draw the supply of agricultural land. If a tax is imposed on all agricultural products, who would bear the burden of the tax, the owners of agricultural land or the producers renting that land? (producers of agricultural products are in this case ..
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