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Discuss the impact of rational self-interest on each of the following decisions: Whether to attend college full time or enter the full-time workforce
Explain in terms of supply and demand of life insurance why the price rises as people get older even though the demand for life insurance goes down as they get older and children become self suffici
For a firm in a competitive market the production function of good X is Q = 4 K0.5 L0.5. If in the short run K = 4, PK = 2 and PL = 8 and PX = 10. What is the long run cost function and the long run
Particularly, given the current circumstances, consider the impact of U.S. immigration policy on domestic workers. Please write and ORIGINAL essay, rather than merely quoting someone else verbatim.
Write a brief essay of about one page on the impact of labor migration on (a) the country of immigration (b) the country of emigration and (c) the world as a whole.
Suppose that the government decides to guarantee and above-market price for a good by buying up and surplus ar the above-market price. Using a conventional supply- demand diagram, illustrate the fol
Suppose that 50 units of a good are demanded at a price of $1 per unit. A reduction in price to $.20 results in an increase in quantity demanded to 70 units. Show that these data yieled a price elas
Using microeconomic theory, explain how the proposed carbon tax for australia would help reduce negative externalities, pollution levels in australia?
Explain the inelasticity of agricultural products in general then compare that to the elasticity of a single food item such as a filet minion.
A firm combines two resources, X and Y, to produce an output level Q in a purely competitive market. The cost of a unit of X is $15 and the cost of a unit of Y is $8. The marginal product of X is 30
Each of the following situations could exist for a perfectly competitive firm in the short run. In each case, indicate whether the firm should produce in the short run or shut down in the short run,
Adam's Ribs in downtown Chicago buys $10,000 worth of beef ribs, $25,000 worth of pork ribs, and $8,000 worth of napkins each month. Are these purchases included in the calculation of gross domestic
Prepare a memo to the managing director that explains the different vehicles available that can be used for each of the following:
What is Gross Domestic Product, and why is it important for national economies? APA style 200-250 words.
Write down the total cost functions for the two methods, letting q represent the number of acres of grass cut per year. (In other words, find an equation with total cost or C on the left-hand side
What explains the shape of the AS Curve? What is the equilibrium price level?
May Brothers Department Store has conducted a survey to learn the buying intentions of a sample of 62 department store customers. The survey asked each customer their household gross income(in $ tho
In 2004, the Wall Street Journal reported that Starbucks was set to raise some of its prices. The article stated that unlike Starbucks, "mass-market grocery brands such as Kraft Foods Inc.'s Folgers
Draw supply and demand curves for the tickets to each of the two games. (Hint: Supply is fixed; it does not change with price.) Draw one graph for each game.
Why are poor countries poor and rich countries rich? What are the main ingredients for economic growth? What policies (if any) can be used to stimulate growth?
In what way do competitive markets have a "natural remedy" for discriminatory hiring practices?
The following listing reports the approximate distribution of profits (on a per disc basis) for different steps in the vertical chain for music compact discs:
A firm is producing 100 pencils per week. The production process requires labor and capital as inputs. Labor costs $6 per labor hour and capital costs $12 per machine hour.
How can we improve in-season sales forecasting and develop a logistics system that is more responsive to demand and sales? What are some of the special logistical issues that we will need to consider
Distinguish between microeconomics and macroeconomics. Label each of the following news headlines as a microeconomic or macroeconomic topic.