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What is the difference between the substitution effect and the income effect in intermediate microeconomics?
Compare the two designs on the basis of equivalent worth per mile for a 20-year period. Find the most economical design on the basis of PW if the MARR is 6% per year.
Suppose that in a year an American worker can produce 100 shirts or 20 computers and a Chinese worker can produce 100 shirts or 10 computers. Explain at what price of computers (in terms of shirts) the two countries might trade.
Identify two public policies that affect population growth - birth and fertility rates.Do you support these policies? Explain. What – other than public policy – affect population growth rates in different regions? Give examples.
You purchased a commercial building and lot for $400,000 on April 15th of 2010. The lot itself was valued at $80,000 when purchased. You sold the lot and building on September 15th of 2015. Use MACRS depreciation and note this property is non-residen..
Write equations for APL and MPL and graph them on the same set of axes. b. At what level of L is MPL at its maximum level? At what level of L is APL at its maximum level?
Suppose there are two types of people who need health insurance; high-risk and low-risk consumers. High-risk consumers have a relatively high probability of needing expensive medical care and on average incur $2,000 of medical expenses per year.
If a manager who does not own a company is allowed to make decisions for the company, then:
Kyle, Brian and Pam are all partners in a general partnership that is engaged in the business of event planning. Kyle contributed 45% of the capital, Brian contributed 40% of the capital, and Pam contributed 15% of the capital of the partnership. Wit..
The US can produce more of almost everything (US has an absolute advantage in the production of almost all commodities). Yet we only produce some and trade with other countries. Why don't we produce everything? What do we gain from trade?
Illustrate what price-quantity comb I country maximizes your firm's profits. Is Demand elastic, inelastic or unit elastic at the profit-maximizing price-quantity combination.
Jim Vendors is viewing about manufacturing a new type of electric razor for men. If advertise were favorable, he would get a return of $100,000.
What is the combined quantity of pizzas produced by the cartel?
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