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What efforts have been made and by whom to promote alternative crops to peasants in Central and South America?
Define the price elasticity of demand? What information does it provide? How is it calculated? Define the income elasticity of demand? What information does it provide? How is it calculated?
Where does cross-price elasticity information is more important.
Consider a 30 year series of cash flows that pays $1,000 at the end of each year, and has present value of $12,500. What is the discount rate? (One way, but by no means the only way, to solve this problem is to use the Solver in a Microsoft Excel s..
Use the production function equation to describe the ‘income inequality hypothesis', i.e. that labour income is being redistributed to capital. What might that particular model imply about what is happening and why?
Disney, Lucas film and Paramount studios were sued by the Institute of Archeology of Belize for using the likeness of ---------------------- in the movie ----------------------------.
In the former Soviet Union, people often resorted to black market transactions preferring them over waiting in long lines for goods and services. This fact seems to suggest that saving time is part of the consumer surplus derived from buying goods..
a competing firm are the only sellers of a new product. You are engaged in an intense battle for initial market share. You both realize that the one who captures most of the market share will be the one who spends the most on advertising and promo..
Currently, at a price of $1 each, 100 popcycles are sold per day in the perpetually hot town of Rostin. Consider the elastictiy of supply. In the short run, a price increase from $1 to $2 is unit-elastic (Es==1.0). How many popcycles will be sold eac..
Illustrate role do property rights play in creating common property resources? Why are common property resources subject to market failure due to nonexcludability.
Research and discuss how the changes in autonomous expenditures affect income and output. Use the above example, let G0 = 200 and calculate the new equilibrium level of . Find ΔY given Δ, calculate the multiplier m. Interpret the meaning of the multi..
What do you call the average production cost of a particular level of output; total input cost divided by units of output?
Which characteristic of the production possibilities reflects the law of increasing cost: its shape or its length ?
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