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Q1. Why does the saying, "no taxation without representation "make sense for public goods but not for private goods? Explain the mechanisms by which individuals can "protest" against taxes that are thought excessive to pay for defense spending and tools that are excessive to pay for defense spending and tools that are thought excessive to pay for a bridge.
Q2. Illustrate the significance of resource pricing explain rule or criteria of employing for resources under pure and perfect competition?
If a bank reserves of $100 million and checking deposits of $700 million, how much are the bank's: (a) required reserves? (b) excess reserves?
Assuming that all of each firm's $16 fixed cost is sunk, what is a firm's short-run supply curve?. What is the short-run market supply curve? c. Determine the short-run equilibrium price and quantity in this industry.
What factors underlie whether specialization in production will be partial or complete on an international basis.
Draw a diagram showing the combined labor market for secretaries, nurses, and teachers. Draw a diagram showing the combined labor market for all other fields. In which market is the wage higher? DO men or women receive higher wages on average?
All firms can increase the volume of goods or services sold by cutting prices. But the volume (quantity) of goods or services a firm sells differs from a firm's revenues (price times quantity). Select your firm or a firm not previously discussed.
The marginal cost of producing the 101st unit of output is $300. Illustrate what is the total cost of producing 101 units
Is this projected outcome consistent with the law of demand? What is the price elasticity of demand associated with this pricing decision? Should you increase the price?
Some of the largest import tariffs tax on imported goods is on shoes. Strangely, the cheaper the shoes, the higher the tariff.
There has been much political discussion about redistributing income. These ideas are not new. Name and elucidate the three political philosophies of redistributing income. Do you believe any of them have merit.
elucidate how many popsicles will be sold each day in the short run if the price rises
Assume you are the plant manager for Crossroads Sign Company, which produces road signs in a market that approximates perfect competition. Due to a slow economy,
What do you think will happen to the price of tablet computers? Please explain. Whom do you think will reap most of the benefits of any technological innovations in tablets in the next five years; buyers or sellers? Please explain.
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