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Discuss why you would not expect all industries to have a similar relationship to the economy. Give an example of two industries that have different relationships to the economy. Please discuss your findings and how the economy will affect them differently.
When a perfectly competitive firm is producing at its profit maximizing level of output, its MR is equal to price and its MC while it may or may not be making an economic profit. The price a profit maximizing monopoly charges is always greater than i..
The following table lists the name, gender, height and reservation wage of 10 persons willing to work as firefighters in Timber Creek. What is the lowest wage that Timber Creek must pay to hire five firefighters? You answered the question $380/week (..
If the CD is cashed in before September 1, 2006, you lose all interest for the first three months and the interest rate is reduced to 1.9%, compounded monthly, after the first three months.
An ice cream company has hired two sales persons to run two ice cream stores on a beach. These two employees will receive a fixed salary regardless of the number of ice creams that they sell and they have to charge the same price set by the company. ..
Boris budgets $9 weekly for his morning coffee with milk. He likes it if it is prepared with 4 parts coffee, 1 part milk. (Milk and coffee are perfect complements here). Coffee costs $1/oz, and milk $0.5/oz. Draw his budget constraint and indifferenc..
The demand for a product is Qd=100-4P-3Px and supply is Qs=10+2P, where Q is the quantity of the product, in thousands of units, P is the price of the product, and Px is the price of another good. Refer to Scenario 1. When Px = $20, what is the equil..
What are the potential ethical or moral effects of the organization’s social initiative or potential social initiative?
What is the marginal revenue of a firm that sells a product at the price of $15 and the price elasticity of demand for the product is -2? What is the price elasticity of demand of a firm that sells a product for $20 and marginal revenue is $12? Use t..
Using general equilibrium analysis, graph and explain the effects of a small country levying a tariff on a -good. What may be some of the long term effects not addressed by general equilibrium analysis?
structural unemployment of 2 percent, seasonal unemployment of 0.5 percent and cyclical unemployment of 2 percent, illustrate what is natural rate of unemployment.
Netflix has been disruptive to more than one market. Select the market in which you think it has been least disruptive.
Which of the following best exemplifies regulatory capture, or the capture theory of regulation?
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