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Most sociologists explain U.S. racial and ethnic inequality using the conflict theory, which blames the system rather than the individual.
Explain how does trade affect the production possibilities frontier. Illustrate what other factors can expand the production possibilites frontier.
If labor is paid $100 and your average tool price is $250 what is profixt maximizing level of output and labor? What is your maximum profit?
What is opportunity cost of producing a barrel of oil in Saudi Arabia. In United States. Which country has comparative advantage in producing oil.
Suppose the government implemented a negative income tax and used the following formula to compute a family's tax liability: Taxes owed= (1/3 of income)-$15,000. A family earning $60,000 before taxes would have how much after-tax income?
how many hours you spend playing. How much time should you spend studying microeconomics?
In deciding where to operate along its production possibilities frontier, a society is answering the question of
Inflation across the board has increased at a rate of 4.3% over the last twelve months. For example, prices for food, gasoline, clothing and entertainment have all increased. Unemployment remains low and stable. What should the Fed do? Describe the e..
A profit-maximizing monopolist named Billy faces an inverse demand function described by the equation p(y) = 40 - y and his total costs are c(y) = 7y, where prices and costs are measured in dollars. In the past Billy was not taxed, but now he must pa..
Explain why the general level of incomes is high in the united states also other industrially advanced.
In a market served by a monopoly, the marginal cost is $60 and the price is $110. In a perfectly competitive market, the marginal cost is $60. What would happen to the price in each market if the marginal cost increased from $60 to $75?
If congress decides to reduce the tax paid per pack paid by sellers of cigarettes other things being equal the cost of cigarettes will fall.
Suppose a consumer currently has $1000 with which to buy food for this year (c1) and for next year (c2). In both periods, the price of a unit of food is $1. Assuming the consumer has “standard” preferences defined over c1 and c2, depict a typical con..
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