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Describe the key differences between simulation models and the models covered in previous modules, not only from the perspective of their applications, but also from the perspective of computing/solving the models
Suppose that between 2003 and 2007, one group of individuals (Group 1) received job training while another otherwise similar group (Group 2) did not. Suppose that the average earnings of the first group went from $40,000 per year to $55,000 per year,..
The US Federal Trade Commission justifies their record of approval of most mergers by asserting that even though competition is diminished by consolidating two firms into one, mergers actually benefit
Consider a market with a demand curve of P=24-2Q and a supply curve of P=3+Q. Calculate Consumer Surplus. Consider a market with a demand curve of P=24-2Q and a supply curve of P=3+Q. Calculate Total Surplus. Consider a market with a demand curve of ..
Suppose a consumer’s preferences over goods 1 and 2 are represented by the utility function u(x, y) = (x+ y)^3. Draw an indifference curve for this consumer and indicate its slope.
Using the slope of the health expenditure function, predict the change in per capita health care expenditures that would result.
A company buys a machine for $30,000. The yearly benefits are$1,500 for 20 years. Interest rates are 6%. Find the total present worth of the machine
illustrate the effect of capital formation by comparing the product posibility curves,at the present time and ten years in the future for two economies,one with a high and the other with a lowrate of capital formation.
Cara has available h = 3000 hours per year for participating in the labor market and for leisure. She gets a wage w = $18 for the first 2,000 hours of work. If she works more than that, the wage on the additional hours is increased by 50%. She receiv..
Discuss each of the pricing strategies below. What conditions are necessary to make each strategy successful in terms of increasing profits? Explain your answer.
q1. were past societies in human history more ecological than our society today? what is the most ecological society
A sudden escalation in the utilization rates and, correspondingly, medical expenditures for treatment of ischemic heart disease (a procedure usually covered by insurance) would immediately. Insurance coverage of which treatment would likely cause the..
Oligopolies are always bad for society. The beer industry has a few large firms and many small firms; therefore we would not call it an oligopoly.
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