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Tailored Clothes
Assume that you were ready to buy a custom tailored dress (or men’s suit) and you are prepared to pay up to $200 for it. Also assume that the tailor is prepared to sell that item of clothing for as little as $100.
When you arrive at the tailor shop, the posted price for the item is $150. Discuss how this scenario relates to producer and consumer surplus and how such surpluses, if any, affect buying and manufacturing decisions
Discuss any recent purchases you have made and for which you feel that a similar rationale seemed to be at work.
Draw a typical Phillips Curve. Explain why some economists claimed that the Phillips Curve represented a menu of social choice. Do economists still believe in the menu view of the Phillips Curve? What view has replaced the original view?
What is meant by the productivity? What are the factors of production that limit any nation ability to produce wealth?
Aerospace contractor have four employees whose combine salaries through the end of this year are$250000. if the contractor expects to give an average raise of 5% each year, calculate the present worth of the employees' salaries over the next 5 years...
Describe a market situation in which the operating company faces economic difficulties and the need to cut costs. What cost cutting strategies might the operating company use to remain profitable? What would be the benefits and drawbacks of each?
A mathematical approximation called the rule of 70 tells us that the number of years that it will take something that is growing to double. Elucidate how long will it take Mexico's real GDP per person to reach the level that the United States was at..
Pick one market in which the price system does not produce an equitable price and quantity of output. Write a paper of 250 words minimum discussion with at least (2) sources cited in the MLA format. What are the alternatives to government interventio..
If I sell 22,000 units and my annual costs are technology=$5000, postage & handling=$1000, Misc=$3000, inventory=$2000, equipment=$4000, and overhead=$1000. What would my monthly costs be if my fixed costs are technology, equipment, and overhead.
between patents and copyrights which reflects a free market and which is a grant of monopoly privilege by the state?
What is Nick’s MRS of swimming in terms of basketball? Do his indifference curves exhibit diminishing MRS or constant MRS?
What political, social, ethical, and legal differences do both organizations face and what impact do these differences have on managment decision making?
Porters 5 Forces analysis of Louis Vuitton
find the country with largest budget deficit and largest budget surplus in this list the budget deficit is called the Budget Balance.
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