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In international economics, what is the Heckscher-Ohlin model? What are the differences between it and the Ricardian Model?
All of the following are considered to be problems associated with the use of concentration ratios to measure market power except:
Please make a model that explains the decision faced by the monopsonist, and describe how it is similar to the decision faced by a monopolist.
Did Rockefeller raise or lower the price of oil for consumers? Did he increase or decrease access to oil? What impact did this change have on the living experience of consumers? In particular, were wealthy consumers or poor consumers impacted more?
Suppose that demand for a product is Q = 1000 – P and supply is Q = 9P. Furthermore, suppose that the marginal external damage of this product is $20 per unit. Suppose this is a negative production externality. Calculate the Q currently being produce..
An industry consists of three firms. All three have identical variable costs VC(q) = 5q + q2, but whereas Firms 2 and 3 have fixed costs of $2,000, Firm 1’s fixed costs are $3,000. Market demand is Q = 335 – p and the firms play Cournot. What is the ..
John opens a savings account by depositing $5000. The account pays 2% simple interest. After 3 years, John makes another deposit, this time for $6000. What will be the amount in the account when John withdraws the money 7 years after the first deposi..
If the price of labor is constant and a firm experiences diminishing marginal product, then its. When a bank or Bank like institution borrows from individuals or firms with excess funds and lends it to those who need funds it is:
Suppose $2000 is invested at 8% Compounded quarterly for 5 years. How much is accumulated? Determine what rate of interest must be paid so that money will double in 7 years under Continuous compounding.
Determine one possible combination of government spending increases and tax increases that would accomplish the same goal.
A tariff on imports of a product hurts domestic consumers of this product more than it benefits domestic producers of the product." Do you agree or disagree?
Most important, what might be the role of liberal education in elevating society's ability to address complex problems?
Assume exports = 300, imports = 400, tax revenues = 1,100, government purchases = 1,400, private domestic saving = 900. Then the level of private domestic investment is? how do you solve?
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