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Using a graph for each team and a few well-chosen sentences, show how the Phillies and Eagles may both be profit maximizing if the Phillies are not selling out Citizen’s Bank Park (45,000 seats) while the Eagles do sell out Lincoln Financial Field (90,000 seats).
Voters in the State of California decide that the tobacco industry is having too great an impact on the outcome of local referenda limiting smoking in public places.
For each item in this list, please explain whether it would be considered a pure public, quasi-public or pure private good. (TIP: Think about whether the item has shared consumption and/or exclusivity to determine what type of good it is.)
Why should a government be concerned with the pricing of products that a company transfers to an affiliate in another country? Please explain in terms of taxation and exchange rates.
Suppose that inventories fall by $2 billion, consumption increases by $8 billion, unemployment insurance payments decline by $4 billion, and imports rise by $1 billion. By how much should measured GDP change?
On a graph where the total income is on the horizontal axis and the number of tasks is on the vertical axis, why does the piece rate appear as a straight line? Show that if the piece rate goes up, the line become flatter.
Provide a brief, four (4) sentence summary of the background of the case and the outcomes of the lawsuit. Examine both the positive and negative effects that the company in question experienced.
As the number of explanatory variables in a regression increases, the R of the regression
Draw the production possibility frontiers for the 2 countries. Draw the world relative supply curve for manufactures.
Select one significant environmental issue. What are the costs and benefits of our current environmental issues from an economic standpoint? What type of market failure could those problems is defined as? What can you as an individual do to help in a..
If we can get foreigners to give us real goods and services and talk them in to taking pieces of paper in return why should we want anything different?" Do you agree or disagree with this statement?
The wage in Mexico is $5. The wage in the U.S. is $20. Given current employment, the marginal product of the last worker in Mexico is 100, and the marginal product of the last worker in the U.S. is 500.
Which region appears to have a comparative advantage in producing cut flowers: Colombia or California? Explain. How have U.S. consumers of cut flowers been affected by the cutback in Colombian imports?
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