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Abraham Maslow developed a hierarchy of human needs to describe the order of importance of various motivations. According to Maslow, physiological needs take priority over all other needs. Do you agree with Maslow? Why or why not?
Suppose a price-taking firm faces a market price of P = $70 and has a total cost function given by: Algebraically derive the firm’s fixed cost, average cost and marginal cost functions. What quantity will the firm produce? Compute the revenues, costs..
Consider a market where supply and demand are given by QXS = -16 + PX and QXd = 92 - 2PX. Suppose the government imposes a price floor of $40, and agrees to purchase any and all units consumers do not buy at the floor price of $40 per unit. Determine..
Suppose a firm has an annual budget of $200,000 in wages and salaries, $75,000 in materials, $30,000 in new equipment, $20,000 in rented property.What are the annual explicit costs for the firm described above.
Provide a diagram and explain why perfect competition is a natural n-opoly, where n is very large. Assume that the costs of production are C(q) = cq + f and that the demand curve is P = A - Q.
What are the characteristics of an oligopoly? Using the concept of duopoly and the price leadership model, discuss demand and pricing strategies in an oligopolistic market structure.
Explain why the intergenerational correlation of earnings would likely become higher or lower for the following policy changes in the united states:
Have you ever gone tubing with a group of friends or rafting on a lake? Does everyone keep drifting apart? Do the ropes or bungee cords you use to connect keep getting hung up or tangled? Entrepreneurs try to build competitive advantages for their bu..
Discuss whether horizontal or vertical boundaries have been changed, and whether they were extended or shrunk. Following the September 11, 2001 attacks, the U.S. government established the Department of Homeland Security.
Average tax rate is a. total taxes paid divided by total income b. measures the sacrifice a taxpayer makes c. measures the incentive effects of taxes on work effort, saving, etc. d. Both a and b. e. All of the above.
What is the percent value of a loan that calls for the payment of $500 per year for six years if the discount rate is 10 percent and the first payment will be made one year from now? How would your answer change if the $500 per year occurred for ten ..
A major electronics manufacturer expects to generate additional revenue from its recently won government contract. The company forecasts that the revenue will be $190 million in the first year, but will decline by $2 million every year for the next 3..
In the formula for Bayes theorem if the w-probability is greater than the zero than the a-probably is less than the b-probability. Posted offer markets with at least two sellers will generate prices that remain a little above prices from double aucti..
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