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During the oil crisis in the 1970s, long lines at gas stations disappeared soon after price controls were removed and gas prices were permitted to rise. Should this even be interpreted as evidence that the oil companies have monopoly power? Why or why not?
Determine how European Union got into its current economic problems. Explain how did they get into these problems, how serious are problems and how will they realistically solve their problems.
During the late 1990s, several mergers among brokerage houses resulted in the acquiring firm paying a premium on the order of $100 for each of the acquired firm's customers.
Techland and Clothworld are 2-nations with the similar number of employees. In Techland each employee can make 4 units of technology OR 4 units of clothing.
A company in a purely competitive industry is currently producing 1000 units a day at a total cost of $450. If the firm produced 800 units per day, its total cost would be $300.
Kate Austen must generate a sales predice to convince the loan officer at a local bank of the viability of Marina Del Rey, a trendy west coast restaurant.
Imagine the opera has a capacity of 3000 seats and that all costs are fixed. If they can discriminate between the two groups, what is optimal price to charge to each group and how many tickets will each group buy?
What are the highest and lowest payments from the writer that the beekeeper- farmer team will accept for the sixth day?
Use the following data for a firm's output at various levels of employment to calculate: (a) its marginal physical product of labour (MPPL) schedule.
Find out the income elasticity of demand. Elucidate whether gas is a normal or inferior product.
Assume that all states adopt a serious no-fault rule to cover automobile accidents, so that it becomes impossible to sue for damages after an accident.
If you are the chief economist of a country experiencing high unemployment and flat GDP, what macroeconomic policies might you enact in response to these economic conditions? How would you expect these policy changes to impact the economy?
Philips Industries produces a certain product that can be sold directly to retail outlets or to the Superior firm for further processing and eventual sale as a completely different product.
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