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Economic Industrial Revolutions
Select five innovations associated with the Industrial Revolution and five innovations from the Technological Revolution. For each innovation, identify the effects it had on individuals, societies, businesses, and politics.
Explain how might these regulations be thought of as being a negative technological change.
Elucidate the difference among the consumption of a free good and a good that is not free.
Suppose you want to produce WIDGETS in your country. The international price of an imported WIDGET is $50 and pays an import tariff of $10 per unit. Three inputs are needed to produce a WIDGET.
Suppose that there are two goods in the economy, and the price of each good is equal to 1. When Alice has income of $10, She consumes 1 unit of good y and 9 units of good r.
Illustrate what would you expect BRL-USD to do and by how much in one year.
Assuming the phone company has to charge the same monthly rental fee and unit price to all its customers, at what level should it set these charges?
Suppose if the discount rate for the stock is 12 percent, at what price will the stock sell.
There has been some speculation that tax deductions like as the one allowed for interest on home mortgages will be eliminated or altered.
Imagine a person's utility function over two goods, X and Y, where Y represents dollars. Specifically, assume a Cobb-Douglas utility function:
What elasticity of demand did the Village Administrator seem to assume here in his prediction for 1970- 1971? Compute the approximate elasticity of demand (round off, two decimal places is close enough).
A no of empirical studies of automobile demand yielded the subsiquent estimates of income and price elasticities
A monopolist has a constant marginal and average cost of $10 and faces a demand curve of Q D = 1000 - 10P. Compute the monopolist's profit-maximizing quantity, price, and profit.
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