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In a free market system, how are incentives related to the principle of consumer sovereignty?
How did speculation contribute to the stock market crash of 1929? Cite two examples of speculation at the time. Given that only 10% of households held any stocks, how did the stock market crash end up collapsing the whole economy? Name and explain tw..
Illustrate what will happen in the international market for gold if news of war causes buyers and sellers to expect high gold prices in the future.
Show graphically that if the demand for hotel rooms in Barcelona is sufficiently elastic, Barcelona's hotel owners end up incurring the majority of the burden o
Why do we policies in place to correct for externalities that result from the use of fossil fuels but not for externalities that result from the color yellow or country music (or pick something you dislike that isn't taxed)?
Suppose that you are trying to decide whether to spend 4,000 on stock issued by WildWeb or on a bond issued by the same company.There is a 50 percent chance that the value of the stock will rise to? 8,800 at the end of the year and a 50 percent chanc..
Ove makes a line of men's hooded sweatshirts. The costs associated with the business are as follows: $5/Shirt for raw materials, $2/per zipper per shirt, 1 hour
Suppose the production of Crocs is characterized by the production function Q = LK , where Q represents the number of pairs of Crocs produced. Suppose that the price of labor is $10 per unit and the price of capital is $1 per unit. Find the cost-mini..
Assume that you have an app on your smart phone that allows you to walk up to any item in the supermarket, have your phone recognize it, and then display all the necessary information about the product. Imagine that the app even tells you where and h..
It is not uncommon for someone to say something like “if we can put a man on the moon we should be able to… ”, followed by the person’s favorite project. What response can an economist make to this person?
A facility engineer is looking at two proposed alternatives to install anti-pollution control equipment mandated by the State of California. Assume equal lives of 25 years, no salvage values, and interest at 25%. Make the comparison on the basis of p..
Show how length of stay and seasonal demand stability might be important to a recreational tourism destination. What economics conditions made the growth of tourism possible in the nineteenth century?
Assume a household receives a grant of $500 of food stamps every month. How will this household's budget line be affected.
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