Questions from Microeconomics


Q: What were the objections made by opponents of the PPACA?

What were the objections made by opponents of the PPACA?

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Q: List and discuss five policies that DVC governments might undertake to promote

List and discuss five policies that DVC governments might undertake to promote economic development and expansion of income per capita in their countries?

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Q: What are the three major cost-reducing features of the Singapore

What are the three major cost-reducing features of the Singapore health care system? Which one do you think has the largest effect on holding down the price of medical care in Singapore? What element...

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Q: Consider a “punishment” variation of the two-firm oligopoly

Consider a “punishment” variation of the two-firm oligopoly situation shown in Figure 13.3 in the chapter. Suppose that if one firm sets a low price while the other sets a high price, then the firm se...

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Q: Assume a DVC and an IAC presently have real per capita outputs

Assume a DVC and an IAC presently have real per capita outputs of $500 and $5000, respectively. If both nations have a 3 percent increase in their real per capita outputs, by how much will the per cap...

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Q: Which of the following apply to oligopoly industries? Select one or

Which of the following apply to oligopoly industries? Select one or more answers from the choices shown. a. A few large producers. b. Many small producers. c. Strategic behavior. d. Price taking.

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Q: What is meant by technological advance, as broadly defined? How

What is meant by technological advance, as broadly defined? How does technological advance enter into the definition of the very long run? Which of the following are examples of technological advance,...

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Q: Suppose a firm expects that a $20 million expenditure on R

Suppose a firm expects that a $20 million expenditure on R&D this year will result in a new product that will increase its profit next year by $1 million. a. What is the expected rate of return on th...

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Q: Listed below are several possible actions by firms. Write “INV

Listed below are several possible actions by firms. Write “INV” beside those that reflect invention, “INN” beside those that reflect innovation, and “DIF” beside those that reflect diffusion. a. An a...

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Q: What is the significance of resource pricing? Explain how the factors

What is the significance of resource pricing? Explain how the factors determining resource demand differ from those determining product demand. Explain the meaning and significance of the fact that th...

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