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1 you are given a payoff matrix for a zero-sum game you see that for one pair of strategy choices by the two firms as
1 explain why a demand curve is also a curve of average revenue recalling that when an average revenue curve is neither
1 what is the opportunity cost to society of a 100-mile truck trip why may the price of the gasoline used by the truck
1 give some examples of goods whose production causes detrimental externalities and some examples of goods whose
a firm holds a patent that is estimated to be worth 20 million the patent is repeatedly challenged in the courts by a
1 give some other examples of public goods in each case explain why additional users do not deplete the good and why it
suppose the supply-and-demand schedules for cigarettes are as followsa what are the equilibrium price and equilibrium
1 name five common products introduced since you were born2 name some companies that advertise that their products are
1 explain why the services of a lighthouse are sometimes used as an example of a public good2 explain why education is
the following table shows the number of pizzas that can be produced by a large pizza parlor employing various numbers
1 distinguish between investment and capital2 explain the difference between an invention and an innovation give an
below you will find the yearly average values of the dow jones industrial average the most popular index of stock
1 unemployment is no longer a social problem because unemployed workers receive unemployment benefits and other
a number of conservative politicians and economists advocate replacing the progressive income tax with a flat tax that
1 suppose the war on poverty were starting anew and you were part of a presidential commission assigned the task of
1 define the poverty rate does it rise or fall during recessions2 since the official poverty line was set at 3000 in
chapter 23 pointed out that because faster capital formation comes at a cost reduced current consumption it is possible
below you will find nominal gdp and the gdp deflator based on 2000 5 100 for the years 1988 1998 and 2008a compute real
1 explain the difference between final goods and intermediate goods why is it sometimes difficult to apply this
1 explain why a decrease in the price of foreign oil shifts the aggregate supply curve outward to the right what are
1 when the income-tax rate declines as it did in the united states early in this decade does the multiplier go up or
suppose a worker receives a wage of 20 per hour compute the real wage money wage deflated by the price index
in an economy with the following aggregate demand and aggregate supply schedules find the equilibrium levels of real
1 create your own numerical example to illustrate how leverage magnifies returns both on the upside and on the
if the expected default rate on a particular mortgagebacked security is 4 percent per year and the corresponding