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Suppose that ranchers can buy up to a collective total of 200 cows and run them on the open range. The value of each cow after it has grazed is given by V= $2000-10C, where C is the total number of
Explain the finding that people in high-income economies seem happier than people in low-income economies, but, over time, people in high-income economies do not seem to be any happier even if their
During the 1980s and 1990s, the United States experienced a significant inflow of capital from other countries. For example, Toyota, BMW, and other foreign car companies built auto plants in the Uni
Let's take a closer look at ERP and CRM solutions. How do these type of solutions improve business efficiency and help meet some of the goals and objectives of using e-com to streamline business fun
Imagine a firm that hires 2 types of workers, some with computer skills and some without. If technology advances so that computers become more useful to the firm, what happens to the marginal produc
Some economists believe that Fiscal Policy can affect swings in the business cycle. Looking back to the book, it discusses the Japanese government and their government cutting taxes.
Suppose you have just been appointed to the Federal Open Market Committee of the Federal Reserve. Your advisors report that the economy is growing slowly. Real GDP is at an annual growth rate of 0.0
Discuss how leaders identify and formulate effective change to address stakeholder expectations. Analyze how organizations need to improve with respect to employee and customer responsiveness to mee
(Elasticity and Total Revenue) Explain the relationship between the price elasticity of demand and total revenue. (Determinants of Price Elasticity) Would the price elasticity of demand for electric
Describe the cultural differences between a team and non-team environment. What is a High Performance Team What are the benefits to the employees, customers and management for using such teams
An economy begins in long-run equilibrium and then a change in government regulations allows banks to start paying interest on checking accounts. Recall that the money stock is the sum of currency a
Suppose a firm uses 2 inputs to produce one output. Can you derive an optimality condition for conditional factor demand for the first input if the second factor is fixed in the short run How does i
Explain the difficulty of defining and using the user cost of capital and discuss the value in making decisions based on it, rather than using accounting expense data. What is the difference between
How does technological advance enter into the definition of the very long run? Which of the following are examples of technological advance, and which are not: an improved production process; entry
How does monopolistic competition differ from pure competition in its basic characteristics From pure monopoly? Explain fully what product differentiation may involve. Explain how the entry of firms
Suppose that Bank of America makes the maximum loan they can from the funds you deposited. Use a T-account to show the initial effect on Bank of America's balance sheet from granting the loan. Also
A: what are four common phases of business cycle B: explain the causes of recent recession and when it started and when it technically ended. Finally why the recent recession was called the worst r
How Might pressures felt by college-bound high school students to participate in academic related organizations and activities contribute to a lower teen labor force participation rate Why are peopl
You are hired as the consultant to a monopolistically competitive firm. The firm reports the following information about its price, marginal cost, and average total cost. Can the firm possibly be ma
Suppose a perfectly competitive firm produces output at two different plants. If the marginal cost at the first plant exceeds the marginal cost at the second plant for all units of output, how will
Why do you suppose that people who propose stiffer penalties for violations of laws prohibiting the sale and use of marijuana argue that toughened enforcement would push up the market price of marij
For any given demand curve for the right to pollute, the government can achieve the same outcome either by setting a price with a corrective tax or by setting a quantity with pollution permits. Supp
suppose that early in a year, hurricane hots a town in Florida and destroys a substantial number of homes. A portion of this stock of housing, which had a market value of $100 million (not including
In the money market, money supply is determined by the central bank, such as the Fed in the U.S. Because of this, money supply curve is usually vertical in the short run, while the money demand curv
How does the demand curve faced by a purely monopolistic seller differ from that confronting a purely competitive firm Why does it differ Of what significance is the difference Why is the pure monop