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Many states have passed laws known as dram shop acts under which a business or an individual can be held liable for injuries caused by persons who become intoxicated from alcohol served by the business or individual.
What do you think the underlying social policy is for this type of law? Do you agree these laws should be applied to hosts at private parties? Why or why not.
Assume that the price elasticity of demand is −.5 for a certain firm's product. If the firm decreases price, the firm's managers can expect total revenue to: Maximizing total benefits is never equivalent to maximizing net benefits. Maximizing total b..
Explain how many units of labour will Valentines hire. What wage per unit of labour will Valentines pay.
Economic growth would be illustrated by select one d a rightward shift of aggregate demand a leftward shift of aggregate demand a rightward shift of aggregate supply a leftward shift of aggregate supply
If a pound of U.S. pork cost 40 rupiah in Indonesia before the Asian crisis, how much did it cost when the dollar value of the rupiah fell by 80 percent?
What are transnational corporations (TNCs, or multinational corporations, MNCs) and how are they different from other business firms? Why have the MNCs become more important in international political economy during the past three decades? How have r..
What is their goal, and illustrate what decision criteria do they use in trying to reach that goal.
What are definitions for Social Democracy, Communism, Mercantilism, Institution, Informal Institution, Formal Institution?
When the interest on a loan is below market, a lender must offer a discount to induce the investor market (secondary market) to purchase the loan. Assume a house is worth $100,000 if purchased with all cash. The existing 9% assumable loan has monthly..
The country of Trenton does not trade with any other country. Its GDP is $925. Its government purchases $126 worth of goods and services each year, collects $171 in taxes, and provides $49 in transfer payments to households. Private saving in Trenton..
Suppose that there is an increase in the number of ATM machines in service. In the monetary intertemporal model, what are the current effects on aggregate output, employment, the nominal interest rate, and the price level? Please draw graphs and expl..
q1. when the firms in the industry are just able to cover their cost of production economic profit is 0. consequently
Now assume a 7% real discount rate. What would the present discounted value of the project be? Should the project still be approved under this discount rate?
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