• Why are there so many competing perspectives and interpretations in the study of political science?

outline the technique of cost benefit analysis and discuss how it can be used to inform decision making in the public sector

Describe how the savings decision can be thought of as a trade-off between current and future consumption. In that context, the price of future consumption is one over one plus the interest rate. Using this logic, explain why savings might rise when the interest rate rises. What is the precautionary model of savings? How might that model predict the opposite effect on savings when interest rates rise.Describe how the savings decision can be thought of as a trade-off between current and future consumption. In that context, the price of future consumption is one over one plus the interest rate. Using this logic, explain why savings might rise when the interest rate rises. What is the precautionary model of savings? How might that model predict the opposite effect on savings when interest rates rise.

Chapter 11

1) What is the difference between the short run and the long run?

2) What is the law of diminishing returns? Why is this proposition called a "law"?

3) What are the two components of a firm's total cost in the short run, and what are their definitions?

4) What is the difference between average total cost and marginal cost and are they ever equal to each other?

n 1990, Congress passed a new luxury tax on items such as yachts, private airplanes, furs, jewelry, and expensive cars. According to the textbook, which of the following statements is (are) correct?

(x)One goal of the tax was to prevent rich people from buying luxuries.

(y)One goal of the tax was to raise revenue from those who could most easily afford to pay the tax.

(z)The burden of a luxury tax usually falls more on the middle class worker that produces the good than on the wealthy buyer because demand for luxury goods is usually price elastic.

A.(x), (y) and (z)B. (x) and (y) only C.(x) and (z) onlyD.(y) and (z) onlyE.(x) only

Suppose there are two inputs in the production function, labor and capital, and

these two inputs are perfect substitutes. The existing technology permits 3 machines to do the work of 2

worker. So F(E,K)=2K+3E. The firm wants to produce 60 units of output. Suppose the price of capital is

$10 per machine per hour. What combination of inputs will the firm use if the wage rate is $10 or $15 or

$20 per hour? What if the firm wants to produce 90 units of the output?

(Attributes) Competitive Market    Monopolistically Competitive Market

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Price is equal to marginal revenue

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Product Differentiation

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Many Sellers

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Free Entry

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Complete the table by indicating if each attribute characterizes a competitive market, a monopolistically competitive market, both, or neither. Check all that apply.

Please! Respond in a way that is easy to understand and organize it just the way i have shown above.

If a project costs $70,000 and is expected to return $17,500 annually, how long does it take to recover the initial​ investment? What would be the discounted payback period at i=16​%? Assume that the cash flows occur continuously throughout the year.

Could a state society exist without stratification and without violence? (Include evidence!)

Please utilize well-executed, clearly constructed one graph for showing responses to all questions. You do not have to reproduce the graph for each question. Please remember to: · Label all axes (P, Q) · Label all lines/curves (Demand, Supply) · Label all relevant equilibrium points · Label intercepts for your linear demand and supply. (Intercepts are the points where the lines intersect the axes. For example, if a demand curve intersects the price axis at P=100, indicating that at P=100, 0 units are purchased, you should label that point on the axis with the price of 100).

Question 1 Suppose you have been hired by a research firm trying to understand the market for Widgets (a hypothetical product). Your analysis of the data indicates that the Demand curve for Widgets is estimated to be linear and given by equation Qd = 100 - 2P and the Supply curve for Widgets appears to be linear as well and is estimated as Qs = 2P - 20. Graphically draw these two curves, labeling all relevant points (such as intercepts for each line) on the horizontal and vertical axes.

Question 2 Given that Demand is Qd = 100 - 2P and Supply is Qs = 2P - 20, your next assignment is to compute the equilibrium Price and Quantity in the market for Widgets. Indicate these values on the graph.

Question 3 The firm that hired you has estimated that improvements in Widget quality tastes will cause the Demand curve to change to Qd = 140 - 2P. If the Supply curve remains the same (Qs = 2P - 20), graphically draw these two curves, labeling all relevant points on the horizontal and vertical axes.

Question 4 Given that New Demand is Qd = 140 - 2P and Supply is Qs = 2P - 20, your next assignment is to compute the new equilibrium Price and Quantity in the market for Widgets. Indicate these values on the graph.

Mario works part-time at a Pizza Hit and earns an annual wage plus tips of $15,000. He sold 4,000 pizzas during the year at $15.00 each. He was unemployed part of the year, so he received unemployment compensation of $3,000. During the past year, Mario bought a used car for $5,000. Using the expenditure approach, how much has Mario contributed to GDP?

30. What does an economy need in order to keep prices low, offer consumers a wide variety of choices, and encourage innovation?

    A) The implementation of communism and heavy government regulation
    B) The implementation of socialism and give the poor a basic universal income

    C) Encourage the use of competitive markets, flexible prices, private property rights, respect     for contract law, and individual liberty

    D) Encourage fairness, social justice, eliminate income inequality, and regulate all personal     income to make sure everyone gets the same amount.