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Amy Canvas is an artist who produces sketches and paintings. She can produce 12 sketches a week if she spends all of her workday sketching. She can produce 3 paintings a week if she spends all of her workdays painting. The rate at which she produces either sketches or paintings is independent of how many she makes. She can divide her time in any way she wishes between sketching and painting. If you draw her production possibilities frontier with sketches on the horizontal axis and paintings on the vertical axis, the production possibilities frontier will be...
Please provide an explanation to your answer in order to help me understand why
If an option existed for an equivalent computer system to be purchased for $810 per month, paid at the end of each month in 2012, should they take this plan instead? Explain Answer!
Why is there a growing disparity between the rich and poor in the US? What are some of the reasons for this and what should the government do to bring about growing equality with income? Do we as citizens have an ethical responsibility to help the po..
Explain the different methods of economic forecasting including expert opinion, opinion polls, surveys, economic indicators
How would you go about determining whether innovation and the incentives for innovation are becoming more important factors in the performance of firms and industries?
Describe the impact of an expansionary fiscal policy in an open economy using the ISLM model and the interest-rate parity relationship. Explain what happens to output, the interest rate and the exchange rate, using the appropriate graphs to illustrat..
Define and explain ‘Law of Diminishing Returns with the help of diagram. What are the different stages of production in the short run? Define and explain ‘Price Discrimination (PD)’ with the help of diagram. Also give examples of Price Discrimination..
Based on a 6-month interest period, compute the nominal annual interest rate and the effective annual interest rate.
Clarify the pros and cons of the free-rider problem. Logically describes the possible outcomes of the median-voter rule. Give explanation of how wages are determined in competitive labor markets and explain why wages differ from one occupation to ano..
In evaluating the accuracy of their statements, should one distinguish between (i) economist’s descriptive statements, propositions, and predictions about the world, and (ii) their statements about what policies should be adopted. Explain in detail
The population standard deviation s is estimated to be around 25. The necessary sample size should be at least?
Suppose a lake is publicly owned, i.e. a common property resource, with free fishing for all. The number of fish caught varies with the number of people fishing
Explain three (3) approaches that network administrators can use in order to ensure a fault tolerant network design without a single point of failure.
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