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Martha is preparing for exams in economics and sociology. She has time to read 40 pages of economics and 30 pages of sociology. In the same amount of time she could also read 30 pages of economics a
Suppose it is known that the distribution of earnings for government workers is relatively less disperse than that for workers in the private sector. Use the Roy model to explain which type of worke
Our politicians frequently discuss what we need to do with respect to immigration reforms in this country. Some critics, however, suggest that a focus on legal reforms will not impact the situation
What are the primary difference between industrial users and home users of electricity that allow the utilities to discriminate between the two markets in terms of price How do we compensate for the
Economists argue that appropriate corrective taxes or tradable pollution rights will result in efficient pollution reduction. how do these approaches target the firms that should undertake bigger re
What is offshoring of white-collar service jobs, and how does it relate to international trade Why has it recently increased Why do you think more than half of all of the offshored jobs have gone to
What is a monopolistic competitive firm Given the same resources with a firm in a perfectly competitive industry, how could output and prices (of output) be different for both firms
a. why might fire extinguishers exhibit positive externalities b. draw a graph of the market for fire extinguishers, labeling the demand cruve, the social-value curve, the supply curve, and the soci
What is the policy credibility and how is it relevant to the problem of reducing high inflation How is credibility related to the time inconsistency problem What are the evidence of the Phillips cur
What is (are) the emerging structure(s) (not necessarily the final results) of increased economic interactions suggested by the interdependence, dependency and mercantilist perspectives
Describe the economic impacts of subsidizing beef, pork, corn, soybeans, rice, and wheat on U.S. food prices and food prices in other countries, and how any negative impacts can be minimized.
Given the current state of energy use, which continues to grow exponentially in such countries as China and India, what measures can the United States and other Western countries take to produce mor
What are the primary differences between industrial users and home users of electricity that allow the utilities to discriminate between the two markets in terms of price
a. Draw a diagram showing Sparkle's demand curve, marginal-revenue curve, average-total-cost curve, and marginal-cost curve. Label Sparkle's profit-maximizing output and price. b. What is Sparkle's
Rivalry and excludability are the two characteristics of goods that are produced through the competitive market system. Compare and contrast the difference in private and public goods based on these
Critical Thinking: Last year Congress passed a bill creating a new national health care system that is not yet fully explained. What principles of economics relate to this decision Describe how each
It is clear that more education results in higher average life time earnings. Therefore, can we conclude that it is always a good investment to spend more income getting more education
The manager defends this decision because, he says, his division has been providing the bulk of the profits for the company. Division J is smaller, and its manager syays that it is time to make the
Diagram the total product, marginal product and average product functions showing the division points between stages I, II and III of the production process. How do these stages of production relate
What factors might contribute to a low level of productivity in an economy Compare these to the rapid productivity growth experience by the United States during the 1990s.
Suppose all the competitve firms collude to form one single monopoly firm. (Collusion changes neither the demand nor the cost conditions in the industry.) Discuss the economic effects of the change
With a series of benefit cuts across many firms throughout the economy, some economists argue that nominal wage rates, a major cost of inputs for firms, have been decreasing.
explain the points in the process where the vendor has an opportunity to add value, be sure to answer the following questions, how does value vary for a large purchase versus a smaller one, does add
Apply the formula for the area of a triangle (Area= 1/2 x Base x Height ). What is the dollar value of the total surplus ( producer surplus plus consumer surplus) when the allocatively efficent outp
The nation of Ectenia has 20 competitive apple orchards, which sell apples at the world price of $2. The following equations describe the production function and the marginal product of labor in each