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1. List and describe two or three goods and/or services that you think their prices have been affected by supply and demand recently.
2. How did the recent economic crisis affect financing for global trade?
3. what is the Silicon Valley's strengths and weaknesses to have produced so many successful tech firms?
4. How is the price of health Insurance measured?
State the rule for optimum input allocation to produce a given level of output at the lowest possible cost -when two inputs are variable and the prices of the inputs are given- and explain why it makes sense.
Read the following scenario. The dilemma known as the "tragedy of the commons" was first described in an influential article written by Garrett Hardin and published initially in the journal Science in 1968.
Assume that the world market for producing radios is monopolistically competitive. Suppose that the price of a typical radio is $25. Why is this market likely to be characterized by two-way trade? If you concluded that radios will continue to be prod..
Research two periods in history, one where the United States experienced an increase in inflation and the other an increase in unemployment. Write a paper discussing the causes and outcomes. Use the aggregate demand and supply models to analyze the c..
How did demographic change described under "Peopling" impact the developments that are listed under "Work, Exchange and Technology
For a company to convince consumers to use their products repeatedly, they must:
Delibeefious, a deli selling only beef, face the following demand function (for beef): Qd = 0.4Y – 0.8Pb + 0.2Pc, where Y is income, Pb is the price of beef ($/Lb) and Pc the price of chicken ($/Lb). Suppose that the price of beef is $10/Lb and Pc eq..
Explain how unlimited desires and limited resources combine to create the need for economic analysis Assignment: What does it mean for individuals to have unlimited wants? Why can’t individuals have everything they want?
describe briefly how consumers and incumbent firms are influenced by these externalities.
Discuss what happens to Marginal Benefit (MB) and Marginal Cost (MC) curves of Insurance in the following cases: Insurance Premiums decreases
Consider a firm using labor and capital as its only inputs. The price of capital is $40 where the price of labor (wage) is $60. Using 500 units of labor and 500 units of capital the firm is producing 1200 units of output. At this mix of input the fir..
To encourage inner-city youths to spend more time playing sports, the government introduces a super income tax of 10% on professional basketball players and plans to use the revenue to improve inner-city sports facilities. In an attempt to raise more..
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