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Consider the following production function: f(k,l) = k^1/3 + l^1/3
Does an increase in the tax increase the cost linearly? Why or why not? HINT: Consider the partial derivative of the cost function with respect to t.
Business Economics, Economics
What are the four main points of difference in terms of utility, value, rationality, and equilibrium between the classical and neoclassical schools of thought? Briefly describe each one.
What is the effect of changes in gasoline prices on the demand for restaurant meals? Is gasoline an economic complement of restaurant meal Are restaurant meals an economic complement of gasoline
Model this situation using a game table. Hawk and Dove: Two animals are fighting over some prey. Each can be passive or aggressive. Each prefers to be aggressive if the other is passive, and passive if the other is agg ...
What should NGOs (non-governmental organization) do in regions of conflict or war? The benefits of having NGO's personnel in such regions outweigh the risks?
How do changes in income affect consumption (and saving)? What are factors other than income that can affect consumption?
Why is the term asymmetric information in order to understand why some people are better informed than others, and the imbalance in information affects the choices they make and how they deal with one another?
You're trying to save to buy a new $190,000 BMW 3 series sedan. You have $40,000 today that can be invested t your bank. The bank pays 4.8% annual interest on its accounts. How long will it be before you have enough to ...
Under the trade model with external economies of scale, is it possible for a country to be worse off with trade than it would have been without trade? Justify your answer.
1. Explain why Fukayama thinks we are at the "end of history". How do you respond to his contention? 2. Explain what information a Lorenz curve gives you. How is this information summarized by a Gini coefficient. 3. Expl ...
What is the usefulness of the total revenue test for price elasticity of demand? What are the factors that affect price elasticity of demand and price elasticity of supply? What are some applications of each?
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Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate
Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p
Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As
Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int
Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As