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1. a. Write down everything you would require durint your preparation for the debate.your preparation should include graphs and formulas.
b. you should prepare yourself to discuss the critism that could be used against the marginal utility theory during your debate.
2. discuss the "law of diminishing returns"
What happens to the student's budget line? Illustrate the change with new books on the vertical axis. Is the student worse off or better off after the price change. Explain.
Demand estimation and forecasting and income elasticity of demand
Describe the difference between movement along the demand curve and a shift in demand. Provide an example to help the class understand the difference between the two.
Public administration can't exist outside of its political context. Describe how politics affects the policy making process and the delivery of governmental services.
In the long run, the most helpful action that a monopolistically competitive firm can take to maintain its economic profit is to lower price
This question is intended to understanding of the basic Ricardian model by having you work through a problem on your own. There are two nations, Canada and United States, and two goods X and Y.
Think that the following data for a simultaneous move game. If you advertise and your rival advertises, you each earn $5 million in profits.
how do these factors affect the elasticity of demand and what would happen if there was a change in these factors
In the competitive industry, reduction in property tax rate on fixed capital (plant) would reduce the fixed cost of all firms. This would have the following short-run effects on P, Q, and q respectively.
What are "normal" goods? Give an example in our current economy and what are "inferior" goods? Give an example in our current economy.
Your manager comes in with three sets of proposals for a new production process. Each process employs three inputs: land, labor, and capital.
Suppose an airline flying on the Charolette-Chicago route has estimated the demand curves for three different types of customers: business (no advance purchase), leisure (7 day advance purchase), and discount (14 day advance purchase) travellers. ..
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