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What three factors determine whether two economics with separate fiscal and monetary authorities should form a currency union? Give illustration of each factor using NAFTA economies.
marginal revenue exceeds marginal cost, marginal cost exceeds marginal revenue, total cost exceeds total revenue.
Describe the difference between a monopoly and an oligopoly, and a cartel and provide an example of the monopoly, an oligopoly, and a cartel and write down the welfare effects of monopolies and oligopolies.
How would you know demand has increased? (What is the first piece of information which would lead you to conclude that demand has increased?)
One advantage of forming a business as a corporation is: the business is subject to less taxes and fewer government regulations limited liability management can make quick decisions individual stockholders can influence daily business
how can an economy that is below its potential output level attain equilibrium at potential output and shift the aggregate demand schedule to the left?
In order to derive an individual's demand curve for salmon, we would observe what happens to the utility-maximizing bundle when we changea. income and hold everything else constant. b. the price of a close substitute and hold everything else constan..
A,B, and C decide to act illegally as a cartel, to divide the market equally among the three of them, and to set the price and output that will maximize their total profits. What price and output do they set? What is the output level that each of ..
You are given the following two IS curves that show how real GDP (Yt) in the current time period t depends on the current interest rate and interest rates in previous periods, where rt is the interst rte in time period t. Furthermore each time per..
Many companies purchase other companies or individual product or brands from other companies to acquire new products. For example, Disney recently agreed to purchase Marvel Entertainment and its portfolio of more than 5,000 characters, such as S..
How much is the long-run equilibrium price? How many firms will be operating in this equilibrium? Plot two side-by-side graphs to illustrate the long-run equilibrium; one should show a typical firm in equilibiurm, the other should show the market..
Explain the difference between a normal good and an inferior good. Would your answers to question 7 change depending on whether this good is a normal or inferior good? Why?
Summarize the firm's history, its recent and current operating results, and the economic, social, and political forces that affect it most and present a brief SWOT analysis.
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