How can cultural differences shape the perception about gentrification?

How do free competitive markets maximize social welfare? In addition, what are market failures and how do they affect social welfare?

Why was the play adaptation of Uncle Tom's Cabin more accessible than the novel?

pls Answer Question ASAP.

Short answer questions: (write no more than a paragraph for each question)

1. (5 points) Tell me a story from your personal experience where you were involved in a
situation that could be described as a prisoner’s dilemma game. (I am certain that you
were in that type of situation at least once.) First briefly describe the situation and then
explain how the incentives could be interpreted as a prisoner’s dilemma game. Discuss a
potential difficulty in identifying a real-life situation as a prisoner’s dilemma game.

2. (5 points) Can the iterative elimination of dominated strategies (IEDS) procedure
eliminate Nash equilibrium strategy? Explain why yes or why no.

3. (5 points) In the Matching pennies game there is a Nash equilibrium in which both
players play “Heads” and “Tails” with probability ½. Would it still be an equilibrium if say
the row player switched to playing “Heads” with probability 1/3? Explain

Are cigarettes relatively demand elastic or demand inelastic? Explain using the determinants of price elasticity of demand. Does the burden of cigarette taxes fall more heavily on buyers or sellers? Explain. Do you think that higher cigarette taxes will deter more people from smoking? (200 WORDS)

Describe the external debt in Trinidad and Tobago.

3. Clark Marketing Services has found, through market tests, that the demand for Sonya’s Peanuts has a price elasticity of demand of 0.5 and an income elasticity of 1.8. You, an economist employed by Sonya’s peanuts, have been asked by your employers to explain what this means for its pricing policy and choice of sales outlets. Company executives have been thinking of lowering the firm’s prices and concentrating on selling to discount stores. What do you advise they do? Explain in a paragraph.

2. a. Using the concept of price elasticity of demand, explain the conditions under which it would be rational for pharmaceutical companies to reduce the supply of drugs. Explain carefully. (10 points)

b. Under the conditions you have identified, what do you think the appropriate response of the government should be? Explain your answer.

Yp(Potential Output) = 10L^½ K^½; W = 10 + 1Ls; W = 60 – 1Ld( W = nominal wage rate) ; Total demand for goods and services1 (planned consumption + gross investment + planned government purchases + net exports) = 1600 – 10P ; short-run aggregate supply: Y = -400 + 10P; C = 60 + 0.9[Y – Tx] – 1P; Net Exports = 0; Government purchases = 50; Last year’s capital stock = 100; gross investment = 50; Net investment = 44; retained earnings = 10; average values for Ufrictional = 5%; Ustructural = 13%; Ucycled = 2%; Tax = 0 always.

5. The economy is initially in long run equilibrium.

What is the price level? __________

6. What is the unemployment rate in #5? _________

7. What is the value for consumption in #5? _______

8. Then government purchases increase and the AD1

curve becomes AD2 = 1800 – 10P. What is the

unemployment rate when the economy moves to its

new short run equilibrium? __________

9. What is the new value for G? ______________

10. Eventually, wages and prices rise and the economy returns to its long run equilibrium. What will

be the value for the nominal wage rate in this new long run equilibrium? __________

11. What is the value for total business saving in this economy? __________

Were the United States' atomic bombings of Hiroshima and Nagasaki justified? Explain why or why not, and consider whether the atomic bombs were necessary to end the war.

NC General Statutes Chapter 25 (to answer questions below)

What is the statute of limitations regarding contracts for the sale of goods?