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Question: 1. When would a restaurant owner prefer to open a new restaurant: one year after an oil shock hits or two years after the oil shock hits?
2. For the sake of the economy, should the government ban Christmas, and instead encourage people to give gifts throughout the year? Why or why not?
George has $100 in income to be spent on hamburgers (H) and milk (M). Draw George's budget line in a graph with milk measured on the horizontal axis and hamburgers on the vertical axis. Label this graph clearly and completely
Review the case of Nigeria and Lord Bauer's analysis of West Africa, along with the discussion of non-cohesive state formation, as presented in this chapter.
By way of a logical argument explain why this firm inevitably produces an output that is socially efficient. Provide an explanation for each step of your proof
1) Florida citrus mutual, an agricultural cooperative association for citrus growers in Florida, needs to predict what will happen to the price and output of Florida oranges under the conditions below. What are your predictions? For each part, sketch..
Analyse the ethical problem using act utilitarianism, identifying all relevant consequences. Compare negative versus positive consequences
The marginal product of labor in the production of computer chips is 50 chips per hour. The marginal rate of technical substitution of hours of labor for hours of machine capital is 1/4. What is the marginal product of capital?
suppose that the u.s and japan are two ricardian economies. both countries can produce only two goods automobiles and
Is there a way that the decision-making process within a large corporation can overcome this fact of human selfishness and what would be a solution in this scenario and How does the theory of psychological egoism fit within your personal body of ethi..
In a competitive industry, the market-determined price is $12. For a firm currently producing 50 units of output, average total cost is $14, short-run marginal cost is $15 and average variable cost is $7. a. Is this firm making the profit-maximizing ..
Through which channels does a binding minimum wage affect employment? Illustrate this effect with a diagram. According to recent research what are the employment effects of minimum wages?
draw an ad-as diagram representing the u.s. economy in a recession. also draw a diagram of the u.s. labor market in the
Find Marens consumption in the two periods ( as a function of m1,m2 and r)3) If the interest rises, how will Maren chanhe her consumption in each of the two periodes
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