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Questions: a new thread below and post to these questions:
A) Why do you think economics is required for many college majors? What value can economics add to your education? How can the study of economics help you to make better decisions? What are some of the decisions that economics can help you with?
Assume your expected incomes in years one and two are $60,000 and $70,000 respectively. You have 40,000 in cash in year 0. Market interest rates for one-year loans are 8% in year 0 and 14% in year 1.
If a firm had everywhere increasing returns to scale, what would happen to its profits if prices remained fixed and if it doubled its scale of operation?
One of the important points of week one is scarcity and it applies to resources. What are resources Give some examples of the resources that you have at your disposal and how you use those resources. What makes them scarce
Relevant metrics to investigate include GNP, GDP, GDP per capita, unemployment, inflation, foreign exchange rates, and international trade.
If the marginal product of the second worker hired by a firm is 14 units and the price of a unit of output is $7 regardless of the quantity of output sold, then the marginal revenue product of the second worker is?
A rural stretch of a two lane road in Loudoun County is to be refurbished or a new route established. The existing road, E, will cost $3,000,000 and the new route, N, will cost $5,000,000. Annual O&M costs will be $120,000 for E and $90,000 for N...
Notice that the estimates from (a) and (b) above are different. Why do price elasticity of demand estimates change along the demand curve? What does this estimate imply about the price elasticity of demand of gosum berries?
South Africa is in the early stages of implementing a National Health Insurance (NHI). It is hoped that the NHI will help solve a number of challenges facing.
If the nominal GDP in 2002 is $8,000 billion and the implicit price deflator is 1.4, what is the value of real GDP in 2002?
Problem: What are the steps that one takes to perceive the social world? Which of these steps is the most crucial?
Consider ethical decisions I designing patient centered health interventions, for mental health, consider the practical effects of specific decisions. Include e
For each of the following statements, identify the type of market it describes. Use an example from the readings or the internet for each characteristic and explain your choice.
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