please answer the quotations.

1. Using economic concepts explain why Nike can charge $185 for a pair of Air Jordan basketball shoes.

2. Explain in detail what is being done to combat poverty. But also add why poverty is so hard to define and ultimately solve.

3. Playing the economist, analyze in detail the Affordable Care Act. Be careful not to get into either a political or emotional discussion.

4. Why is the minimum wage a politician’s dream issue. Be sure your response is based on economic concepts discussed in class.

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