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Describe three different methods of allocating scarce resources.
Explain how these allocation methods may affect quantity demanded, equilibrium price, and quantity supplied.
Are these allocation methods more or less efficient than other methods?
Explain your arguments using relevant course material and personal experience.
Distinguish between fiscal policy and monetary policy as to the components and intended uses of each type of policy. Material from the text, research, and YouTube within our course may be used.
Discuss whether perfect competition is more efficient than regular unregulated monopoly, regulated monopoly, and natural monopoly? Justify your answer using real world examples.
Consider a firm using labor and capital as its only inputs. The price of capital is $40 where the price of labor (wage) is $60. Using 500 units of labor and 500 units of capital the firm is producing 1200 units of output. Write the firm's isocost equ..
Suppose a textbook publisher historically sells an econ book alone but then markets the new edition of the boo only as a bundle with an online hw supplement. Answer 2 parts: define bundling. discuss what consumer and market characteristics are needed..
What is the structure of the Fed? What is the difference between the Fed and the Treasury? What are the goals of the Fed? What actions are at the disposal of the Fed?
Engineering company just purchased a new CAD software for $8,000 now and annual payments of $500 per year for 6 years starting 2 years from now for annual upgrades. What is the present worth of the payments if the interest rate is 6% per year? Please..
Write a four to five (4-5) page paper in which you: 1.Describe the business and explain the general pattern of change of the particular market model indicating how this change is likely to impact business operations. 2.Hypothesize the basic short-run..
A student is shown four envelopes. Envelope A contains $2,000; envelopes B, C and D contain uncertain amounts of money but with the following probabilities: Envelope B -- $5,000 with a 10 percent probability, $2,000 with an 88 percent probability, an..
Governments typically provide disability insurance and unemployment insurance to workers. In contrast, governments typically mandate that firms provide workers’ compensation insurance to their workers but do not provide the coverage. Why the differen..
Larned Corporation recorded the following transactions for the just completed month. $80,000 in raw materials were purchased on account. $71,000 in raw materials were requisitioned for use in production. Of this amount, $101,000 was for direct labor ..
You observe a positive relationship between price that your store charges for CDs and total revenue from CDs. Is demand for your CDs elastic or inelastic.
Consider an economy in which autonomous consumption is 800, the marginal propensity to consume is 0.8, investment is 400, government spending is 500, taxation is 400, and net exports are 100. What is the equilibrium GDP in this economy? What are the ..
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