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Suppose that a perfectly competitive industry becomes a monopoly. What effect will this have on consumer surplus, producer surplus, and deadweight loss
Suppose the US dollar depreciates against other currencies. Under the linked exchange rate system, Hong Kong pegs its nominal exchange rate to the US dollar. What would happen to the prices of goods and services (in terms of US dollars) in Hong Kong ..
What's it called when one person (or nation) is more productive than another needs fewer inputs or takes less time to produce a good or perform a production
Draw simple labor supply and demand graphs for the occupations of school teachers and plumbers to show the labor market in each profession. Show the reduction in output from discrimination. Show the economic gains from eliminating discrimination. Wit..
Discuss in your opinion what you feel were the major positive and negative impacts of Big Business on the U.S. economy.
Suppose that Omar’s marginal utility for cups of coffee is constant at 2.5 until per cup no matter how many cups he drinks. On the other hand, his marginal utility per doughnut is 10 for the first doughnut he eats, 9 for the second he eats, 8 for the..
The theater manager observes that the rise in price causes attendance at a given movie to fall from 300 persons to 200 persons.
Using the classical model of chapter 3, suppose taxes decrease by $100 while government spending is constant. Also, the marginal propensity to consume is 0.90. For a, b, and c below, tell how much each of the following change, if at all, and in which..
The cross price elasticity of biscotti demand with respect to the price of Lattes is -1.5 (Lattes and biscotti are complementary goods).
A researcher is interested in seeing if negative political ads against an opponent (group one) are more effective than positive ads for the original candidate
Define the three types of agency authority. List and discuss the provisions of the Family Medical Leave Act. What technology company recently adopted very generous provisions for medical leave for pregnancy?
When Ajax co. Produced 3 units of output per week, its total fixed cost was $100 and total variable cost was $45. When output increased to 4 units per week, total fixed cost remained at $100 and total variable cost increased to $65.
An office wants you to read ten court opinions for the case of a current client. The choices are (1) traveling to a large law office in the city that has all of the bound volumes, (2) using case databases on Westlaw or NexisLexis or (3) using the cas..
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