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What is the most effective way to use unit price in your grocery store decision making process?
State and explain the law of diminishing returns. How might this law apply if you were studying for an examination for an online course? What is the difference between explicit and implicit costs? Which of the costs is most closely associated with op..
Assume the market for corn is comprised of many buyers and sellers and resembles perfect competition. The use of corn to make ethanol as an additive to gasoline can lead to an increase in the price of other grain crops (e.g., soybeans). Indicate whet..
If the supply of turkeys in particular November (remember Thanksgiving) turned out to be unusually small (few turkeys not size of the bird).
Find the equilibrium price and quantity in this market and the consumer and producer surplus from the equilibrium price and quantity.
1. What are the physical features of your community? Research this question by looking at maps that indicate the geographic features of your community. What did you learn about the physical geography of your community that surprised you?
The GDP is not necessarily an accurate measure of the standard of living or quality of life in the US. If you were redesigning the GDP measure
How would the effect of monetary policy on aggregate demand change if there were more adjustable rate mortgages than fixed rate mortgages?
Explain as completely as you can (IN YOUR OWN WORDS) what an economist means by demand (supply) and discuss (this implies that you are able to discuss why the factor causes the shift and explain the direction of the shift. How does a change in demand..
1) Consider a recent scandal in current events and summarize what happened. 2) What do you think was the main cause or contributing factors that led to the scandal?
Suppose the MWTP in periods 1 (now) and 2 (one year from now) is given by P = 8-0.4q. Marginal extraction cost = $2. r = 20%. The available supply is 20 units. Calculate the allocation of outputs across the two periods that maximizes the present valu..
What is a disadvantage(s) of setting up a private option in the Beveridge model?
Now suppose that the firm must pay a 50% tax on its revenue. What is the value of the desired capital stock?
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