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Respond to the following questions from the reading guide to the novel: One of the most complex questions for John to address is the notion of salvation, how it is defined, and how (or whether) God determines who receives it. How do the novel’s characters convey assorted possibilities about this topic? What answers would you […]

Consider the following information for a soccer ball manufacturing firm that can sell as many soccer balls as it wants for $12 per ball. a. Fill in all the blanks in the table.b. Verify that MRPL for this firm can be calculated in two ways: (1) change in TR from adding another worker and (2) MPL times

For each of the following, decide whether you agree or disagree and explain your answer: a. Capital and investment are just two words for the same thing.b. For a capital asset to depreciate, it must physically become worn out and can no longer be used.c. Social capital provides services to the public, so it is

South African Airways (SAA) and Quantas Airlines hold a duopoly- a ‘code-share’ – on direct flights from Australia to South Africa. The International Air Services Commission has indicated to the airlines that the tie-up may be cancelled at the end of 2015. The Commission warned the airlines to stop decreasing their flight capacity in order

Consider a simple Asian economy with only four markets (energy, food, labour, and capital) and two types of households (rich and poor). Explain why an excise tax on energy is likely to hurt white collar households more than the blue collar households, despite expectations that the opposite would be true. Assume that the proceeds of

Emerald Island has a climate that is suited to banana production and yields 840 pounds per acre. Tropical Springs has a climate that is not well-suited for bananas and yields only 250 pounds per acre. Emerald Island has a climate that is not well-suited for mango production and yields 325 pounds per acre. Tropical Springs

Many high street bookstores have adult and teen sections where the adult copies of the same books cost more than children’s copies, the only difference being the books’ cover. Prices between the two copies, for both paperback and hardcover, may differ by as much as 17%. Using the idea of price discrimination, explain the price

The following diagram illustrates the demand and marginal revenue curves facing a monopoly in an industry with no economies or diseconomies of scale. In the short and long run, MC=ATC. a. Calculate the values of profit, consumer surplus, and deadweight loss, and illustrate these on the graph.b. Repeat the calculations in part a, but now

Taylor Swift is a singer-songwriter whose pop album 1989 was the top-selling album of 2014, with 3.66 million copies sold in just its first 9 weeks of release. The path to success for pop musicians involves reducing the elasticity of demand that they face and building barriers to entry. That sounds like economic babble, but

Which of the following markets are likely to be perfectly contestable? Explain your answers. a. Coal miningb. Insurancec. Wind Farmsd. Landscapinge. Advertising