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Suppose an industry has 4 firms each with 20% of sales, and 4 firms each with 5% of sales. The HHI for the industry is?
Proponents of a government-run health care system argue that the market does not work well in the medical care industry. What evidence do they use to support this claim? In what sense is health care an investment? In what sense is it pure consumption..
One aspect of obtaining a college education is the prospect of improved future earnings in comparison to non-college graduates.
In the Soviet Union, especially in the early decades under Lenin and Stalin, the official doctrine was Communism, and the use of incentives was considered a form of treason. One important exception was the military equipment sector, where bonuses wer..
Name two types of market failure. Explain why each may cause market outcomes to be inefficient. Please include references.
1. Research the various OSI Model levels used by your computer to access the internet. 2. What type of activity on your PC uses TCP? Why? Use Wireshark to confirm.
If lenders expect a higher rate of inflation, then
If the stock is fairly priced today, what expectation of the price of the stock by the end of year
Consider the market for pizza. Indicate whether each of the following events is more likely to impact producer behavior (supply) or consumer behavior (demand). Will supply/demand increase or decrease?
How do bubbles challenge the classical theory of asset prices? Are bubbles necessarily inconsistent with the absence of arbitrage opportunities? Explain in detail. What are the social costs of bubbles? How did Shiller test the classical theory? What ..
There is a duopoly of beer producers, Biller and Moors, who produce identical hoppy ales, and each have marginal costs of $100 per keg. Assume there are no fixed costs. What are the best response curves in Cournot Oligopoly for these two producers? W..
An unemployed leather maker is most likely to be considered to be structurally unemployed. A new college graduate looking for his or her first professional job may experience frictional unemployment. Cyclical unemployment is unemployment that is in e..
Be sure to construct an essay that addresses the selected question fully. Be sure to use specific examples as evidence that supports your argument. the framework for the first part of the course has been the “convergence model.” Explain what this is,..
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