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Suppose your firm produces olive oil in a perfect competitive market and is currently earning zero economic profits. Suppose there is a surge in demand for olive oil after researchers discover that olive oil consumption reduces heart disease. Analyze the short and long run effects of this increased demand on you firm.
Provide a brief company and product description and describe the characteristics of your chosen product that differentiate the product in the marketplace.
If the demand for corn rise due to its use as an alternative energy source, what will happen to supply of corn's substitute such as soybean?
Describe why it would cost Andre Agassi or Venus Williams more to leave professional tennis tour and open the tennis shop than it would for the coach of the univeristy tennis team to do so.
A nation has a fixed amount of Capital and Labor which lies on aggregate isoquant when all inputs are being used efficiently.
Describe the cutthroat competitors reasons for not increasing or decreasing his price, thereby accounting for the kink in his demand curve.
Calculate the appropriate value to use for income in your analysis. Explain why you choose to use that level of income and what is the dead weight loss associated with monopoly
The fixed costs at Harley Motors are $1 million annually. The main product has revenue of $8.50 per unit and $4.25 variable cost. Find out the following.
What is the question you want to use the dataset to try and answer? What is your key independent variable(s)?
Estimate the monthly payment if the car is purchased with a $15,000 down-payment and estimate the down-payment required to keep the monthly payment at $550
Describe how the circular flow diagram illustrates the interaction of households, governments, and business and Describe the relationship between market and aggregate supply and demand?
Do you think the overall level of R&D would rise or reduce over the next twenty to thirty years if the lengths of new patents were extended from twenty years to, say "forever"?
Subsidy programs are likely to have a number of secondary effects in addition to the direct effect on dairy prices. What impact do you suppose farm subsidies are likely to have on the following?
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