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Question: Owner/operators of small gas stations rarely pay themselves an hourly wage. How does this practice affect the economic cost of dispensing gasoline?
Microeconomics, Economics
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Question - Suppose there are 100 commuters that use a strip of highway to get to work. They all drive alone and prefer to drive in big cars - it gives them more prestige a makes them feel safer. Bigger cars cost more per ...
Question: Over the period from 1979 through 1989, manufacturing employment fell by 1.6 million, while in the previous decade it had risen 0.9 million, yet service sector employment rose 19.3 million, compared to 17.3 mil ...
Question: Suppose the Fed were required to conduct monetary policy so as to hold the unemployment rate below 4%, the goal specified in the Humphrey-Hawkins Act. What implications would this have for the economy? The resp ...
Question: Consider the following data: The money supply is $1 trillion, the price level equals 2, and real GDP is $5 trillion in base-year dollars. What is the income velocity of money? The response must be typed, single ...
Question: The northern community of Assiniboine Narrows has a population of 12,000. It has one medical clinic with three doctors, each working 40 hours per week. Each doctor sees four patients per hour. The clinic would ...
Question: (The existence of the Electoral College is one indicator that the United States is not a true democracy in terms of representation. In a true democracy, each individual vote would count in a presidential electi ...
Question: Farmer Brian has 3 acres of land which he farms efficiently. Each acre can support 20 apple trees. However the 3 acres differ in their ability to support orange trees. He can grow 40 orange trees on the best la ...
What would be 3 effects associated with changes in productivity, good and bad? Can the government affect productivity, if so in what ways good and what ways not so good?
Question - The figure illustrates the average total cost (ATC) and marginal cost (MC) curves for an apple farmer. Assume the market for apples is perfectly competitive. If the market price for apples is $66.00 per crate, ...
Question: Pricing Some personal computer software is sold at special discounts to students. Other software is provided in a less powerful versions for students. Why do publishers offer discounts to students? What is the ...
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