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In 1986, the US congress enacted a rule that required railroads to disclose all their contractual terms with grain shippers. The result was that railroad shipping rates fell for routes where there was substantial competition with barges, but railroad shipping rates rose for routes with no competition from barge traffic. What do you think happened?
Which of the following are not included in GDP but probably should be?
Illustrate what would it raise more money than today, less money, or the same amount of money.
A successful and stable cartel can be established if there are
"If Mexico is currently operating at a point beyond its production possibilities frontier, then there are unemployed or misallocated resources in Mexico." Is this statement true or false?
Joe agreed with Auto Insurance Co. not to use his auto for commercial business purposes when he purchased auto insurance. Joe had an accident while delivering pizzas for Bigger Pizza Inc. What type of violation has Joe engaged in?
what is the formula for that equation? Assume you have 5 uneven payments to make and you want to know what you will be paying at 10% per payment (year) on this uneven payment.
Suppose an office supply store increased its price of file folders from $.79/box to $.99/box and the quantity demanded decreased from 85 boxes/month to 83 boxes/month. What is the price elasticity of demand for file folders? Is the demand elastic, un..
In "Kitchen Nightmares," Chef Gordon Ramsay visits struggling restaurants and gives the owners of the restaurant a number of recommendations intended to reverse the restaurant's prospects. Explain how the recommendation is an application of Economies..
A? nation's automobile market is depicted in the graph to the right. Suppose their government proposes a policy to subsidize mass transit? (bus rides) as means of increasing ridership
Consider the Sherwin Williams Company example discussed in this chapter. Suppose one is interested in developing a simple regression model with paint sales (Y) as the dependent variable and selling price (P) as the independent variable.
A farmer is producing where MC = MR. Say that half of the cost of producing wheat is the rental cost of land ( a fixed cost ) and half is the cost of labor and machines ( a variable cost ) . If the average total cost of producing wheat is $20 and the..
The impact of labor migration on patterns of international trade depends on the characteristics of the labor migrants. In which cases might migration expand trade? World income? In which cases might it reduce trade and world income?
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