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How much of the opposing side should you share in a presentation to a multiple-perspective audience, and what techniques would you use?
The dairy industry is initially perfectly competitive. There are thousands of small dairy farms across the country. Then Bill Gates goes and purchases every single dairy farm. In your own words compare the outcome in the market under monopoly and und..
Suppose there is a policy debate regarding the United States imposing trade restrictions on imported semiconductors: Which of the following justifications is the pundit using to argue for the trade restriction on semiconductors?
After reviewing the Scopes Trial Website, which document/argument do you believe best sums up the anti-evolutionists' position? Which document/argument do you believe best sums up the evolutionists' position? How does each side see the other?
We discussed the business cycle fact that money is a pro-cyclical economic statistic. explain how the real business cycle theorists explain the pro-cyclical behavior of money. In the space below, draw three diagrams, a money market diagram, an IS - L..
Joe's utility function is U (A,B)=AB^3. Compute Joe’s expenditure function. Using the expenditure function compute the income increase (in percentage terms) that Joe needs to maintain his original standard of living when the price of basic goods doub..
Suppose the price of capital in the restaurant industry decreases. Explain how the decrease in the price of capital affects the demand for labor in this industry. Be sure to explain both the scale and substitution effects.
Suppose the marginal cost curve in the short run first decreases and then increases. If marginal cost is decreasing, _____ must be _____ and _____ must be _____.
Measures of elasticity enhance our ability to study the magnitudes of changes in quantities in response to changes in prices (or income). This is especially important for policy, where the effectiveness of a tax depends, in part, on the elasticity of..
In 2008 the rise in oil prices due to p AS speculation that growing demand in Asia would keep oil prices moving up led to an increase in costs of production
What are the price elasticity of supply for both Chik-Fil-A and Chicken-R-Us?
What is the marginal product of the fifth? worker?
Define ex,I and ey,I to be income elasticities for goods x and y. Define sx and sy to be income shares for x and y.
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