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From the economist's perspective (whichever economist you chose), answer the following:
1) Summarize the economist's key philosophies
2) Explain how the Three Basic Questionswould be answered
3) Discuss how the Factors of Production should be managed under your economist's perspective
Students will be required to submit thorough essays (500 to 750 words excluding reference page) that answer all questions applying to the assignment and provided by the author. Do not submit as either a numbered Q&A or as a bulleted list of data, rather submit a completed written paper. It is in the best interest of the student to not wait until the last minute to work on and submit the writing assignments. The stress and feeling of being overwhelmed can be avoided by using time management and not procrastinating in the completion of the writing assignments.
The student should relate the case to the textbook materials and issues. All students should do any internet and/or library database research required prior to writing the response, multiple sources adds to the credibility of the paper. Ensure that proper grammar, sentence structure, and material citations are included for maximum point consideration. Neglecting to cite other authors original material is plagiarism and will be graded accordingly (see the Academic Honesty Section of the syllabus), include properly formatted reference pages with your written assignments. A minimum of two (2) reference sources in addition to your textbook are required.
Question: Explain why the free rider problem makes it difficult for perfectly competitive markets to provide the Pareto efficient level of a public good.
Some commentators have argued that the failure of the “Super committee” is good thing for the economy? Do you agree?
Case study analysis about optimum resource allocation: - Why might you suspect (even without evidence) that the economy might not be able to produce all the schools and clinics the Ministers want? What constraints are there on an economy's productio..
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Problem - Total Cost, Average Cost, Marginal Cost: - Complete the following table of costs for a firm. (Note: enter the figures in the MC column between outputs of 0 and 1, 1 and 2, 2 and 3, etc.)
Problem based on Oligopoly and demand curve, Draw and explain the demand curve facing each firm, and given this demand curve, does this mean that firms in the jeans industry do or do not compete against one another?
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Describe the differences between shifts in demand and movements along the demand curve. What are the main factors which can shift the demand curve? Explain why they cause the demand curve to shift. Use examples and draw graphs to support your discuss..
Article Review Question: Read the following excerpts from the article "Fruit, veg costs surge' by Todd, Dagwell, published in the Herald on January 25th 2011 and answer questions below:
Long-term Growth, International Trade & Globalization:- This question deals with concepts such as long-term growth, international trade and globalization. Questions related to trade deficit, trade surplus, gains from trade, an international trade sce..
"Does the economic bailout of Spain and Greece spell the beginning of the end for the European Monetary Union (EMU)?"
Read the rules of the game, the overview and the almanac for the Development Game "Settlers of Catan"
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