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Prepare a 3-5 page paper in response to this narrative and upload as indicated.
Karl Marx and John Maynard Keynes both felt that the "economic problem" or the "problem of scarcity" could be overcome by the human race. Describe how each of these writers thought that his could be accomplished. Which writer has the better solution to the "economic problem"? Or are they both wrong? (Refer to Keynes' essay, "Economic Possibilities for our Grandchildren" in Blackboard).
Suppose that an industry has high fixed costs to enter but, other than that, is competitive. What will be the effect of the high fixed costs to the number of firms in the industry? To the firm size ? Is marginal cost higher or lower for a firm with h..
Explain the differences in how an open and closed economy is modeled including any policy (monetary and fiscal) implications for these two types of economies. Ins include a fully labeled model showing the impact of increased political instability for..
Which policy will discourage economic growth?
Rick Nash, a player for the Columbus Blue Jackets hockey club earned $5.25 million this year. The CPI for this year is 225, base year 1983. If Rick were to maintain his current purchasing power how much would he have earned in 1983?
Argumentative essay on the article "The anonymity experiment" by catherine Price 300 words. Evidence and support - now you present bias and give your reasons as to why you support or do not support technology.
Elucidate using the example of multiple equilibria in the labour market. Illustrate diagrammatically
Find out the Nash equilibrium cost for the two diners. How many breakfast club memberships will each diner sell in Nash equilibrium.
What is the difference between the index number for the year you were born and the Consumer Price Index for January of 2012.
Suppose that, in a small country, the equilibrium price of corn is $300 per ton and that the government establishes a price floor at $400 per ton by promising to buy any resulting surplus. A few years later, the demand for corn increases because a fo..
What criteria would you apply to determine where such a policy is or is not successful. Judging from your own stated criteria, was Japan's exercise successful.
Opportunity cost is associated with choosing a particular decision that is measured by the forgone benefits of the next-best alternative. What example would you pose to explain this?
Suppose the hotel in the lecture example raised its price from $30 to $30.50. With the new price, the hotel expects 96 guests to arrive 5% of the time, 97 guests 10% of the time, 98 guests 20% of the time, 99 guests 30% of the time, 100 guests 25% of..
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