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Choose correct answer (s). Which of the following are sources of market power? (a) government-issued patents and copyrights (b) a law requiring all new funeral homes to have an embalming room (c) law that makes it a crime for limousine companies to charge less $50 per ride.
Illustrate the expected total monetary loss under 4% of annual interest rate if this park is permanently closed this year.
For given input prices, more expensive bundles of inputs are associated with:
To differentiate its product a monopolistic competitive firm will engage in all of the following advertising practices EXCEPT
Andy purchases only two goods, apples (q1) and kumquats (q2). He has an income of $40 and can buy apples at $2 per pound and kumquats at $4 per pound. His utility function is U(q1,q2)=3(q1)+ 5(q2). What is his marginal utility for apples and what is ..
I was watching a documentary about a scientist fishing for giant stingray in Thailand. They ran into a fisherman on the river late at night. The fisherman said he was fishing for giant river shrimp (the things were the size of lobsters). The scientis..
Explain why the Fed decreased the federal funds rate during the last two recessions. As you can see from the graph, the Fed raised the federal funds rate in 2004 up to 2006. Again, explain what might have motivated the Fed to act in such a way.
Efficiency-wage theory suggests that to improve workers performance, firms should:
Suppose there is a bill to increase tax on cigarettes by $1 per pack coupled with an income tax cut of $500. Suppose a person smokes an average of 500 packs of cigarettes per year--- and would thus face a tax increase of about $500 per year from the ..
Suppose that the correlation r between two quantitative variables was found to be r = 0. Which of the following is the best interpretation of this correlation value? A There is a strong linear relationship between the two variables. B There is no lin..
We have learned that there are significant gains from trade and that free trade improves the wealth of all nations. However, while international trade can make a country as a whole better off, it can also make some agents worse off. Please elaborate ..
The companys marketplace department estimated a linear demand function for Border's picante sauce:
What decision (abroad or domestic) should be reconsidered to create better entrepreneurial opportunities in the future
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