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"When [Warren] Buffett graduated from Columbia, he asked Benjamin Graham for a job (for no salary) at the Graham-Newman Co. According to Buffett, 'Ben made his customary calculation of value to price and said no'." Warren Buffett Speaks. Janet Lowe. Wiley, p. 31. Can you explain the irony in this story? Use rational consideration of costs and benefits. What was Benjamin Graham really saying? Why might you be turned down for a nonpaying internship?
What training, health protection activities, logistics and communication plan are needed for public health mission in developing countrie such Africa.
Despite recent positive economic news for the US economy, some Federal Reserve officials are still worried about inflation being too low or even the threat of deflation. Why might an inflation rate that is too low be harmful to the US economy? Why mi..
The Bureau of Labor Statistics reported the consumer price index as 90 in December 2009 and 100 in Decemb
At the competitive wage of $20 per hour, firms A and B both hire 5,000 workers (each working 2,000 hours per year). The elasticity of demand is -2.5 and -0.75 at firms A and B respectively. Workers at both firms then unionize and negotiate a 12 perce..
Which of the following is associated with asymmetric information in a financial crisis?
Suppose the market for wine in the U.S. is characterized by: Calculate the deadweight loss if the U.S. imposes a prohibitive tariff per unit of imported wine.
Plastic Products Ltd is a company that produces and markets plastic cups, teaspoons, knives and forks for the catering industry.
You are the manager of a firm in a market where the demand is P = 50 − Q. You have only one rival, and both you and your rival face a production cost of $2 per unit. As it stands, you would both choose your output simultaneously. But you have the opp..
Think about a product that you have purchased recently (e.g. soda, diapers, takeout meals, milk, shoes, manicure/pedicure, video game, etc.). Explain how the law of demand affected your purchase. Give specific examples of how the determinants of dema..
Include ideas on productivity and savings rates. What changes took place during the Industrial Revolution that made sustained economic growth possible?
Read the article by David Author entitled "Why Are There Still so Many Jobs?". Then write a 300-450 word essay (around 1.5 to 2 double spaced typed pages) that (1) discusses five items you found of interest and (2) for each item, identify whether tha..
Suppose there are two types of shirts available to Carl: red shirts and black shirts Carl is always willing to exchange three black shirts for one red shirt. What type of preferences is mike exhibiting? Are Carl's preferences convex, strictly convex,..
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