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1. Why might privatisation improve economic performance?
2. Why should both aggregate demand and aggregate supply be considered when for-mulating government macroeconomic policy?
With the per-unit prices of broccoli (B) and pork rinds (R) equal to $2 and $1 respectively, a consumer George, with an income of $1,000 purchases 400R and 300B. At that point, the consumer's MRSBR = 2R/1B.
Explain the difference in profit levels between the differential pricing and uniform pricing cases. Hint: First calculate the point price elasticity of demand under the uniform price-output solution.
Why do you suppose that "work on self-control problems such as procrastination is catching on most quickly"? Can you provide an example and explanation of why people do this?
Using the method described in Section 6.2, calculate the change in Albert's consumer surplus.
The comparative advantage for pizza production belongs to __________ and the comparative advantage for pizza delivery belongs to __________. Based on their comparative advantages, Pat should specialize in _______ while Corey should specialize in ____..
Construct and show a gross margin budget for the activity. Construct and show a whole farm budget. Advise the farmer on the current and future profitability of the farm and possible options to improve performance.
A Jamaican music executive leaves Kingston for New York to promote a reggae concert tour. He exchanges 100,000 Jamaican dollars for American dollars ($104 Jamaican = $1.00 US). After his stay in New York, he has to head to Tokyo (a reggae-crazy c..
What is the purpose of placing capital projects into categories such as mandatory replacement, or expansion of existing products, services, or markets?
From 1991 through 2001, Japan experienced a period of economic stagnation and price deflation known as "Japan's Lost Decade." While the Japanese economy outgrew this period, it did so at a pace that was much slower than other industrialized nation..
Consider the following overlapping generations economy with two assets, capital and money. The number of consumers in each generation is Nt = 1. Consumers are endowed with y1 = 1 goods when young, and nothing (y2 = 0) when old.
In Fairbanks, the Alyeska pipeline service Co. purchased 160 acre homestead from pioneer for $1000 an acre and 250,000 for the cabin and garage. A cabin and garage were preserved as an historical property for an additional $80,000 and moved off-si..
The research and development division of a large corporation is considering the purchase of a new tunneling X-ray microscope for $200,000. The projected net benefits from gains in materials engineering is projected to be $45,000.
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