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Question
Suppose the most you would be willing to pay for a plane ticket home is $250. If you buy one for $175, then your economic surplus is?
Sandy is planning her consumption over five periods during which she expects her income to be 4, 10, 16, 12 and 8. What is Sandy's permanent income? What is Sandy's marginal propensity to consume out of a temporary increase that boosts first period i..
Discuss the types of barriers to entry, and explain whether each type is likely to provide long-term monopoly power. What are the allocative and distributive differences between monopoly and perfect competition? What causes these differences?
Regarding one of the criterion, the four characteristics of a firm, how does this criterion reflect on rent, interest and profits of a firm?
What is the impact of advancement of technology on American values?
Numerous studies have shown that there is usually a systematic relationship between concentration and price. What is this relationship? Offer two brief explanations for this relationship.
What is wealth distribution? Why it became a major concern for developed economies especially since 1990s? What is wrong with a society with moderate income inequality but severe wealth inequality? What kind of measures can be taken for reducing weal..
Explain what is meant by price floors and price ceilings. What are the consequences of a) a price floor that is higher than the market equilibrium price; b) a price ceiling that is lower than the market equilibrium price. Demonstrate your answers gra..
Explain the behavioral biases at work in this example for why this investment option may be so popular.
Which of the following terms is defined as the process whereby Congress approves spending for the various federal programs?
Explain is it possible for the new long-run equilibrium price to be above the original long-run equliibrium price.
If paid quarterly, $1000 is added to the three delayed payments. If the quarterly plan is chosen, what is the effective annual interest rate being paid on the "
State the rule for optimum input allocation to produce a given level of output at the lowest possible cost - when two inputs are varieable and the prices of the inputs are given- and explain why it makes sense.
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