Question: Rules restrict how we interact with others and, therefore, restrict our ability to engage in exchange. Given these are undesirable (from an economic standpoint), what benefits to rules provide us? What is the d ...
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Question: A consulting firm estimates the demand by local businesses for attendance at a pro sports team's games: PB = $140 - 4AB where PB is the ticket price paid by businesses, measured in dollars, and AB is their atte ...
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Question: In the case of the diamond, duplicative mineshafts were a waste of economic resources, and the law makes them unprofitable. Instead of a diamond, what if a number of independent inventors are racing to be the f ...
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Question: Suppose that a firm's technology is given by the following production function: f(k, l) = 6k^1/6 l^1/6 Prove that this production function exhibits diminishing marginal product in both k and l. This is not the ...
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Quesiton: Economic historians have determined that it took about 40 years from the harnessing of electricity for industrial power until it had a significant impact on productivity growth. The same argument is now being u ...
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Question: A newspaper headline reads: "State Officials Take on Pricing Regulations to Try to Provide Better, Dependable Income to Dairy Farmers." Is providing dependable income to dairy farmers a good policy goal for gov ...
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Question: Assume that you were a small country, what would you rather have a comparative or absolute advantage with trading? Explain your reasoning. The response must be typed, single spaced, must be in times new roman f ...
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Question: The ILO's Global Wage Report states that "in the wake of the financial crisis of 2008-09, global real wage growth started to recover in 2010, but has decelerated since 2012, falling from 2.5 per cent to 1.7 per ...
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Question: My question would impact of demonitization on rural and agrarian economy, it is said that digitization would rise, however to it implementation would be at faster pace in urban and its fringes. How would rural ...
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Question: You can choose between Machine A or B. Your interest rate is 6%. You need a Machine for an infinite time. a. Machine A costs $22,000 and lasts for 3 years. It has no salvage value and costs an additional $15,00 ...
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