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How is the duality theorem related to the fundamental question of whether a general economic equilibrium exists in principle?
How can competition be made more equitable by adjusting the starting conditions of the utility-seeking game?
Why do they believe that price gouging and restricted market entry call the comparative merit of private competition into question?
Why did Smith believe that the invisible hand was not a Utopian conception? Hint: think about competition. Elaborate.
Perfect competition usually excludes government, but does not have to. What assump-tions are required to exclude government?
Does power-seeking explain why individuals and nations desire security services which are superfluous under perfect global competition?
Utility-maximizing, competitive free-enterprise systems are believed to provide higher social welfare. In what sense can this be considered a liberal paradox?
Samuel Huntington asserts that power-seeking is dominant force in international affairs. Why power and Parcto efficient utility-seeking are mutually exclusive.
What are the two archetypical economic systems? Why does the duality theorem which stipulates that perfect market and perfect planned outcomes are the same.
Why is this insight fundamental to understanding the diversity of economic systems?
How do multi-person economics complicate the attainment of second best ideals? Could this be important in designing effective economic policy?
How does compulsion differ from monopolistic economic collusion? Hint: consider scope of individual choice when confronted with te threat of violence compared.
What could change the equilibrium price? What market pressure occurs when quantity demanded exceeds quantity supplied? Explain.
Economics has difficulty in explaining why wage rates for individuals vary across occupations and industries and within occupations and industries. Discuss.
In most political campaigns, candidates promise more than they can deliver. What economic concept do candidates ignore?
Select any five financial ratios that you have learned about in the text. Analyze the past three years of the selected financial ratios for the company.
Give examples of political lobbying of the IASC/B, explaining why and how lobbying has increased over the years.
It rains and the coefficient of traction for the 824 is now 0.37. The coefficient of traction for the D7 is 0.55. Which machine would you use on this job?
Job efficiency is assumed to be equivalent to a 50-min hour. Calculate the direct cost of the proposed earthmoving operation in dollars per bcy.
Assume that the dozer will have a 0.38 coefficient of traction. Calculate the direct cost of the proposed canlimoving operation in dollars Per bey.
Calculate the direct cost of the proposed earthmoving operation in dollars per bcy. The company's normal O&O cost for these machines is S70 per hour.
How many fatalities occurred while the operator was getting on or off the dozer? How many fatalities occurred while operating the dozer?
When material is to be moved long distances semi-U (SU) blades. Which is the best dozer to use if we need cutting ability? (D9R highest hp/ 11 ratio 28.9 hp/fl)
Visit the Caterpillar website and obtain the flywheel power (hp) rating for both a D6R. Calculate the by per foot of cutting edge ratio for all four conditions.
What minimum value of coefficient of traction between the tractor wheels and the traveling surface is needed to satisfy the requirements of part a?