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Consider the functionY=sqrtXZ where X>0 and Z>0. Draw the contour lines (in the positive quadrant) for this function for Y= 4, Y= 5, and Y= 10. What do we call the shape of these contour lines? Where does the line 20X+ 10Z= 200 intersect with the contour line Y= 50?
Assume the government now imposes a (binding) maximum legal price for physician office visits (i.e. a price ceiling on the physician office visits). Under what condition would such a policy make a difference in the market (i.e. cause a market distort..
Use critical thinking to analyze the issue using economic concepts and theory learned in our class. Present two policy recommendations based on this issue. Use additional references to back up your arguments. Include at least one graph developed in t..
Joel purchased a security at the start of the year for $900. Over the course of the year, the security paid $17 in income and the price at the end of the year was $907. Calculate the capital gains yield.
A small company heats its building and spends ?$8,000 per year on natural gas for this purpose. Cost increases of natural gas are expected to be 10?% per year starting one year from now? (i.e., the first cash flow is ?$8,800 at EOY? one). The total a..
Identify one policy that is aimed at youth unemployment in the united states. Describe the specific social problem that the policy is aimed to address. What is the current situation and how did this problem evolve (did it become worse / better)? (2 p..
If the population of Argentina was 26.5 million in 1960 and the average population growth rate is 0.6 percent per year, then Argentina's population would have been about ______ in 2000.
"An increase in fixed costs might affect a firms decsion to produce or not but would not affect its profit-maximizing output"
Does Major League Baseball impose more, less, or the same amount of monopsony power on rookie players (those in their first few years in the majors) as on veteran players (say. those with 10+ years in the majors)? In explaining your answer, explain t..
Using relevant diagrams, explain why the impact of expansionary fiscal policy in a fixed exchange rate regime differs from the impact of expansionary fiscal policy in a flexible exchange rate regime.
Can firm losing money go out of business in the short run? If it can’t, explain why not. On what basis does a firm decide whether or not to shut down? On what basis does it decide whether or not to go out of business? If the perfect competitor is los..
Pharmaceutical drugs have an inelastic demand, as well as computers have an elastic demand.
Consider a new per-worker employment tax on workers (where previously there was no tax). outline the consequences of this tax on the local labor market. use appropriate, clear and well labeled diagrams.
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