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Currently, it is difficult to sue the federal goverment unless it agrees to be sued. If the law were changed so that lawsuits (such as by victims of the collapse of the I-35W bridge) were easier, how would this change the incentives of the goverment to properly maintain bridges, road, and dams? How likely is the goverment to agree to such a legal change ?
Distinguish between explicit and implicit costs, giving examples of each. What are some explicit and implicit costs of attending college 2. Distinguish between accounting profit, economic profit, and normal profit. Does accounting profit or econom..
Explain why government regulation is or is not needed, citing the major reasons for government involvement in a market economy. Provide support for your explanation.
In the 1990s, Pfizer, Inc., developed a new antibiotic called Trovan (trovafloxacin mesylate). Tests showed that in animals Trovan had life-threatening side effects, including joint disease, abnormal cartilage growth, liver damage and a degenerati..
At a recent meeting, the president and the CEO of Production, Inc. got into a heated argument about whether or not to shut down the company's plant in Flint, Michigan. The plant currently loses $50,000/month. The president of Production, Inc. argu..
The existence of only three big U.S. auto manufacturers is evidence that the market structure is anti-competitive and that antitrust laws are being broken. Measure this assertion.
Explain the process of revenue at NSU, focusing on the relationship between the increased revenue from students enrolling at NSU despite the higher tuition and the lost revenue from possible lower enrollment.
Your firm currently uses 69 workers to produce 300 units of output per day. The daily wage (per worker) is $100, and the price of the firm's output is $30. The cost of other variable inputs is 100 per day. Fixed costs are $2100 per day. What is to..
Draw a graph to analyse the effects of 40 per cent tariff rate in Korea on the price, domestic supply of and demand for beef, and compare the situation with no tariff case.
Analyze the three different money models the ATM model of the models (the ATM model of demand for cash, the liquidity-preference model, and the dynamic model of money) to determine which model seems most appropriate for explaining the way money wo..
What happens to the reserves of the bank? What happens to the money supply in the economy as a whole if the reserve requirement is 10%, all payments are made by check, and there is no net drain into currency? How would your answer in part b be aff..
What is an efficiency wage How might payment of an above-market wage reduce shirking by employees and reduce worker turnover How might efficiency wages contribute to downward wage inflexibility, at least for a time, when aggregate demand declines
What are Economies of Scale? Why is it Significant to understand this concept? How can one's knowledge of Economies of Scale contribute to decision making processes in organizations?
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