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the production function is given by fx4x12 if the price of a commodity produced is 60 per unit and the cost of the
assume that you are going to start a small business of your own further imagine that you are able to adequately
people often argue that economic rewards in society should be meritocratic that is that everyone should have an equal
one stay-at-home mom laments ldquolots of career women think the only reason irsquom staying home is that irsquom not
when the federal republic of germany west germany absorbed the german democratic republic east germany in 1990
assume that the price elasticity of demand is -2 for a certain firms product if the firm raises price so the firm
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draw 4 budget lines for food and shelter as directedthe consumer has 500 income faces an absolute price for shelter of
in your own words answer the below1 discuss the social and economic effects of colonization how did it contribute the
1 a labor economist wants to know the relationship between education measured by years of schooling and annual earnings
today year 0 a new 7-megawatt mw solar panel farm is constructed at a cost of 14 million four years from today a
how can a domestic producer determine whether or not it has a comparative advantage in the production of a good or
a company is a monopoly in the market for bottled water it was two plants to produced bottled watertotal cost for
success of a company investing and operating in a foreign country depends on the competitive advantage of the company
a farm must decide whether or not to purchase anew tractor the tractor will reduce costs by 2000 in the first year2500
the demand for gasoline is inelastic and the supply of gasoline is elastic thereforea sellers bear most of the
the loss to society resulting from a tax includes thea deadweight lossb consumer surplus paid to the government in the
why should the government intervene in situations of market failure should the government intervene if a market is
a black marketa is legal only when it is associated with government price ceilingsb is defined as the deadweight loss
there are two excavators to choose from a and b the capital cost tor excavator a is 150k runs for 4 years and the
which of the following occurs when a market is efficienta producers earn the highest income possibleb production costs
deadweight loss and market failure are created when a market producesa either more or less than the efficient quantityb
if the government imposes a tax on a competitive market with no externalities theni resource use is not efficientii
suppose the nation of sugarland consists of 50000 households 10 of whom are sugar producers arguing that the sugar