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1. Explain why the "free-rider" problem is likely to be greater in a "large" group than in a "small" group.
2. The common interest of people who are in a burning theater is to walk out orderly and in other ways avoid a panic. If that is the case, why do people so frequently panic in such situations? Use rational behavior and the logic of collective action in your answer.
Collect information regarding the minimum wage. State the purpose of this legal price, assess its impact on the market for labor, and evaluate the extent to which it achieves its purpose.
Explain how the price of a good you buy is affected by changes in the prices of (a) substitute goods and (b) complementary goods - Why does the demand curve slope downward?
A product is expected to earn 25,000 at the end of the first year, and to decrease 500 subsequent year. This product is going to be in service five years. The market value at the end of five years is 5,000. At an interest rate of return of 5%,..
Distinguish between explicit & implicit costs, giving example of each and what are the explicit & implicit costs of attending college?? Why does the economist classify normal profit as a cost?
Suppose you were the manager of a bank that raised most of its funds from short- term variable-rate deposits and used these funds to make fixed-rate mortgage loans. Should you be more concerned about rises or falls in short-term interest rates? ..
Calculate the equilibrium price and quantity
Explain possible pitfalls for such strategy from GEH's perspective.
Explain game theory and how you can apply the concepts in your life and work now and in the future? How does game theory relate to competitive advantage?
suppose that the u.s and japan are two ricardian economies. both countries can produce only two goods automobiles and
What is the identity and the intended functions of major regional economic integrations
Difference between voluntary and involuntary manslaughter
Assuming the revenue from a congestion tax is not redistributed to city residents, what effect would a congestion tax have on the residential bid rent curve? If the government reduced other taxes after instituting a congestion tax, how would the resu..
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