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What are the ways that IT can help comply with legal requirements and social responsibilities surrounding the sales of alcohol?
Martha has the utility function U(x, y) = min {4x,2y}. Write down her demand for x and y as functions of the variables m, px, and py, where m is income, px is the price of x, and py is the price of y.
Describe a shut-down decision your company has made. Compute the opportunity cost and benefits of the decision (using break-even analysis if appropriate). Did your company make the right decision? If not, what would you do differently? Compute the..
European Commission’s preference for a common competition policy is given by the following function: P=1−X, where P denotes price, and X denotes the level of spending allocated to such policy. Draw a diagram in which you illustrate the preferences of..
Explain the short-run effects of eliminating rent control on apartments. In a competitive industry, with competitive supplies of labor and capital goods which have only normal gains, which factor obtains the "producer surplus"? What is the economic e..
Show how moving from a lump sum tax to a linear tax affects outcomes in terms of output and work effort. What is the effect on economic efficiency? How does your picture show this? You should use a linear PPF (so that the wage without distortions is ..
What do you think of an idea of comparative advantage as a basis of international division of labor? Do you agree or disagree with it?
When files are deleted in an operating system the space is typically returned to the free list but the blocks are not erased. Describe how a system can be designed so that the data is not recoverable.
Suppose you are transported 10 years into the future. How do you think the economic landscape of the world would have changed?
Explain how each of the following actions will affect the level of planned investment spending and unplanned inventory investment. Assume the economy is initially in income–expenditure equilibrium. The Federal Reserve raises the interest rate. There ..
a. Write down Sarah's budget constraint. b. Compute the marginal rate of substitution of books for clothing (UB/UC) and books for food (UB/UF).
Which of the following is not a source of cost advantage for a monopoly?
What is asymmetric information? Explain adverse selection and moral hazard problems arising because of asymmetric information
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