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Question: During the Middle Ages, the African city of Taghaza quarried salt in 200-pound blocks to be sent to the salt market in Timbuktu, in present-day Mali. Travelers report that Taghazans used salt instead of wood to construct buildings. Compared with other towns without big salt mines, was the demand for wood more elastic or less elastic in Taghaza? How do you know?
What would be the equilibrium quantity and equilibrium price? Assume the Government imposes a $5 per unit tax on the seller, which equation would be affected and how?
Describe the company - what is the companys comparative advantage in the global marketplace?
PepsiCo produces both a cola and a major brand of potato chips. Coca-Cola produces only drinks. When might it make sense for PepsiCo to divest its potato chip.
Explaining How do goods and services differ?
suppose the market for a certain pharmaceutical drug consists of domestic united states consumers and foreign
Insurance companies must provide insurance to drivers who may take risks that go unreported because they don't wreck or get ticketed (or if they do wreck or get ticketed, it goes unreported to the insurance company).
Gross Versus Net Asset Value The Alexandria division of Atkinson Company just purchased an asset for $120,000. The asset has a 3-year life.
Based on the economic indicators studied in this module, what are your forecasts for Ford Motor Company in terms of profit, employment, and production?
capital is often used as a fixed factor of production. many manufacturing firms cannot operate without a building and
Question 1: Which of the following is most clearly consistent with the basic postulate of economics regarding the reaction of people to a change in incentives
An economist who is studying the relationship between the money supply, interest rates, and the rate of inflation is engaged.
Imagine you are a social planner. Firm 2 wishes to buy ?rm 1. This will create amonopoly in the market with Firm 2's marginal and average costs. As a socialplanner, your goal is to maximize social welfare. In order to do so you can approve or deny th..
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