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You will knit for 8 hours today. It takes you 20 minutes to knit a hat and 80 minutes to knit a scarf. What is the opportunity cost (in terms of hats you could have produced) of increasing your scarf production from 1 to 2?
"What is the present value of $62000 to be received in 7 years if the interest rate is 8 percent?" "How much would Ihave to invest now in order to receive $62000 after 7 years, given an interest rate of 8 percent?"
Critically analyze the pros and cons of putting a price ceiling on prescription medicine. Make sure to use concepts from the chapter in this unit such as government intervention, inefficiencies, price elasticity, etc. What are the impacts that the ph..
Suppose the U.S. government was able to determine which industries would grow the most rapidly over the next 20 years. Explain why this doesn’t necessarily mean there should be a policy to support the growth of these industries. Analyze the disadvant..
According to the Government (in 1998 suit) what actions did Microsoft use to unreasonably restraint trade and maintain its OS monopoly? Discuss.
The demand for strawberry in Baltimore is Q=10-0.5Pd and the supply for strawberry is Q=0.5Ps in Pittsburg. What is the price elasticity of demand? What is the price elasticity of supply? What is the expenditure in equilibrium? What would be the new ..
You are the Economist of the office of Community Development at UCLA. In 2015, you implemented a program of entrepeneurship in LA. Your design was such that the western region was offered that program, while the eastern region was not. Compute the ch..
Discuss the importance of advertising in increasing sales for perfectly competitive firms, monopolies, oligopolies, and firms with monopolistic competition.
Assume an industry is a duopoly. Elucidate the best response functions for A and B.
Parking shortages are a perennial problem on many college campuses, while parking surpluses exist at most shopping malls (except, perhaps during the Christmas season). Explain and show graphically the two cases on separate diagrams. Describe and show..
Then do similar for every of the determinants of supply in Equation 2.2. In every instance, would equilibrium market price increase or decrease.
How did World War II end the age of European colonialism and empire and usher in the Cold War? Why did European political and economic dominance decline between 1945 and 1979 yet the ideologies produced on this small continent continue to have such p..
What rate of return would this $240,000 investment produce for the purchaser of the mine?
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