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If auditing of financial statements is required for the protection of public investors, should not all PCAOB members be taken from the investment community that uses audited financial statements? Why or Why not?
Suppose the market demand for a good is described by the demand function P = 160 - 2Q. It follows that the total revenue function relating the total revenues (TR) to the quantity sold (Q) is:
In the following table, select the amount of each good that each country exports and imports in the boxes across the row marked "Trade Action," and enter each country's final consumption of each good on the line marked "Consumption."When the two coun..
On average, 30-minute television sitcoms have 22 minutes of programming. Assume that the probability distribution for minutes of programming can be approximated by a uniform distribution from 18 minutes to 26 minutes. What is the expected duration of..
If the investment described in Exercise 12 is an individual’s possible weekly compensation and the individual has no control over the outcome, what effort will a risk-averse individual put in? What about a risk-seeking individual?
In the US, realized capital gains are taxed at 15% if they are held for more than a year. Suppose instead that we include realized capital gains (those held for more than a year and less than a year) in income instead so that they are added to an ind..
What amount can Ralph deduct if he and the potential client tried to discuss business during the course of the theatre performance but did not discuss business at any other time?
Suppose that consumption expenditures, investment expenditures, and government purchases are 75 billion, 25 billion and 20 billion, respectively. How large should the GDP be so that the net export is zero?
describe briefly how consumers and incumbent firms are influenced by these externalities.
Explain how globalization in pharmaceuticals occurred with respect to both distribution of medicines in new markets as well as shifting of research and development as well as the manufacturing to lower cost markets.
Jane has 3 liters of drinks and 9 sandwiches. Bob on the other hand has 8 liters of drinks and 4 sandwiches. With these endowments, Jane’s MRS DS is 4 and Bob’s MRS DS is equal to 2. Draw an Edgeworth box diagram to show whether this allocation of re..
Suppose the demand of the good is P = 10 - Q. A monopolist's total cost is TC = 2 + 4Q. What's the optimal price and quantity of the monopolist? Calculate the monopolist's profit (or loss).
In the hedonic pricing model of job risk, steep indifference curves indicate: A reduction in the wage causes the opportunity cost of a vacation to the Bahamas to:
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