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A major step toward mastering the economic way of considering is learning to reason in terms of supply and demand. I have listed several questions below to answer and practice these ideas.Determine what effect would you predict on the value of rental housing in an area where several major employers have recently closed down or moved away? Would you expect the effect to be large or small and why?Determine what effect would you expect an increase in the property tax rate to have on residential rents? Would you expect the effect to be different in the long run from what it is in the short run?
Research the economic costs involved in the conducting break-even analysis for good or service of your choice. Assess the factors involved in conducting the break-even analysis. Find out the conditions which might exist for the manager of this goo..
Johnson Inc. is notified that local property taxes have raised. Johnson's economist states this will increase our cost of production and shift up our average total cost curve, average variable cost curve.
What is your expected rate of return over the one-month holding period?
Find out the optimal price and quantity with standard pricing. Which is the per-customer profit for the gym? What is the consumer surplus?
Describe why the results of computing cross-price elasticity can be useful in determining product relationships. In your explanation, contrast the different numerical values of cross-price elasticity and what each value indicates.
Does microeconomics apply to every nation in the world. Explain your reasoning. and explain the specifics of any cases or examples you use and the implications of similar on local citizens of that country.
Which market structure is best suited for the pharmaceutical industry (perfect competition, monopolistic competition, monopoly and oligopoly)
Find out the firm's optimal quantity, price, and profit (1) by using the profit and the marginal profit equations and (2) by setting MR equal to MC. Also provide a graph of MR and MC.
Draw a correctly labeled loanable funds graph that shows what happens to real interest rates.
Describe why a Keynesian approach to managing the macro economy might be appropriate while, at another point in time, a classical approach might be more likely to produce a superior outcome.
Calculate the incremental profit that south park would earn by customizing its instruments and marketing them directly to end users.
Do you think the overall level of R&D would increase or reduce over the next 20 to 30 years if lengths of new patents were extended from 20 years to, say "forever"?
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