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Why do recession happen? Understanding the sources of recession has been one of the areas of research in economics. Discuss briefly three such sources.
If the city is taxing property at the maximum rate allowed and then the assessed valuation of the property in the city increases , which of the following can be expected to happen if the state does not allow an increase in the property tax levy?
Draw a conclusion with respect to the problem. Describe what a Type 1 error would be for this situation.
Using a market price of $42, what is the short-run profit or loss earned by a typical firm in this industry at this market price?
Please state what you think citizens, governments, and (ideally!?) firms should be doing in the rich countries to help those who live in the rest of the world. You can cite altruistic reasons as well as some springing from self-interest.
Deer have become increasingly apparent in a rural county. Last year it was estimated that there were 40 breeding pairs (a deer must reach the age of 1 to breed). Do you think it is likely that the deer population in the county is increasing? Will the..
Problem 1: Assume that the long run total cost function for each firm in a perfectly competitive industry is LRTC = q3 - 4q2 + 8q and the market demand function is Q = 2000 - 100p. Calculate:
What is the benefit/cost ratio if the right-of-way cost is the price paid by government in eminent domain proceedings?
Prepare a two to three page report titled "Environmental Sustainability in the European Union (EU)." The report should be based on the publicly available information that you obtained. You may use the report published by the European Commission.
A student loan totals $18,000 a graduation. The interest rate is 6%, and there will be 60 payments beginning 1 month after graduation. If this student received $1,500 as a graduation present and uses it to pay off an extra $1500 in the first month, w..
Marcella operates a small, but very successful art gallery. All but one of the following can be classified as a variable cost arising from the physical inputs Marcella required to operate her business.
Increasing returns to scale in production means. The demand curve facing a price-making firm is. In the long run all production inputs are variable. Decreasing returns to scale prevail when output increases by a proportion that is smaller than the pr..
In oligopoly, each firm is acutely aware of the production and marketing decisions of all competitors and carefully considers the potential competitive reactions in all decisions. Discuss whether firms in other market structures consider the potentia..
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