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The dictator of Turan has recently begun to arbitrarily seize farms belonging to his political opponents, and he has given the farms to his friends. His friends don't know much about farming. The courts in Turan have ruled that the seizures are illegal, but the dictator has ignored the rulings. Other things equal, we would expect that the growth rate in Turan will
a. fall temporarily, but will return to where it was when the new owners learn how to farm.
b. increase because the total amount of human capital in the country will increase as the new owners learn how to farm.
c. fall and remain lower for a long time.
d. not be affected unless widespread civil disorder or civil war results.
Illustrate what price and quantity will prevail if the monopolist is not regulated. What price-output combination would exist with efficient pricing.
Elucidate why your answer to part (a) is an example of marginal analysis also optimizing behavior in general.
How do the GDP per capita change after accounting for price indices. Why is it important to use price index adjustments.
Illustrate what is the industry's profit maximizing output level. Is the organization in long-run equilibrium.
Suppose which in the 1990s, the average retail price of a roll of Kodak film was $6.95 also which Kodak's marginal cost was $3.475 per roll.
Illustrate what does this outcome reveal about the size of the multiplier
The opportunity cost of Juan's time is $8 per hour. If Juan receives $2 per pound for his fish, what is the optimal number of hours he should spend fishing.
Does the widget production function exhibit constant, increasing or decreasing returns to scale.
illustrate what would you estimate the difference between the inflation rates of the U.S. also Japan.
The advent of personal computers also word processing software which eliminated the market for electric typewriters would be an example
Name a specific event to be expected to cause the equilibrium price of ice cream to increase.
Describe at least three ways you could pay for your morning cup pf coffee. Illustrate what are the advantages also disadvantages of each.
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