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Recall the looser pay winner auction experiment done in class. a) discuss how these experiments explain why the bidders changed their minds toward wanting to bid well above the value of the prize, even though they refused to do so at the beginning. b) discuss how the experiment explains why George Bush and many citizens changed their minds about a "preemptive" attack on Iraq. c) How do those experiments explain why England wanted to tax trade in the American colonies; which led to rebellion and the formation of the United States
How much profit does an unregulated monopolist earn. How much profit would be earned if MC pricing were imposed
illustrate what wage would a monopoly union demand. Explain how many workers would be employed under union contract.
Which of the following is generally part of a formal report?
Why are trade agreements important for the various countries involved? How is international trade related to the U.S. standard of living as opposed to the standard of living of a small industrial nation or a developing nation
The relationship between the less- developed- countries and the developed countries in the evolution of international trade has always been a bit strained. Discuss this relationship, including policies adopted and /or advocated by each group to "help..
Suppose the US has a Debt Limit Law according to which government debt cannot be higher than $120 million. What are the options for Obama?
The president of the United States announces in a press conference that he will fight the higher inflation rate with a new anti-inflation program. Predict what happen to interest rates if the public believes him.
Calculate the elasticity for each variable at that point and briefly comment on what information this gives you for each variable. Should this firm be concerned if macroeconomic forecasters predict a recession? Explain your answer.
The inverse demand in a Cournot dupoly is P=a-b(Q1+Q2) and costs are c1(Q1)=c1Q1,and C2(Q2)=c2Q2. The government has imposed a per unit tax of $t on each unit sold by each firm. The tax revue is ?
Financial statements are an important product of the accounting process. Provide an example of an external user. How could he or she be harmed by fraudulent and unethical financial statements?
When the prices reduces to $9 the restaurant sells 200 per day. Provide the absolute value of the price elasticity of demand.
inflation was 3% last year, expectations are adaptive, and the phillips curve equation is pi = pi + 0.5 (Y -Y*)/Y*. What will the inflation rate be this year?
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