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Based on "Grossly Distorted Picture," how useful do you think GDP is as an economic indicator? What are its limitations as an economic measurement? How is the Human Development Index (HDI) a better barometer of economic well-being? What are its advantages and disadvantages?
How does the demand curve faced by a perfectly competitive firm differ from the market demand curve in a perfectly competitive market? Explain.
Does it make sense to hold sleep, work, and leisure fixed while changing study? Why or why not? Explain why this model violates the assumption of no perfect collinearity.
What is opportunity cost and describe with the help of an example, why assumption of constant opportunity cost is very unrealistic and also calculate point elasticity of demand
Suppose the market discount rate is 20% instead of 5%. Should he now charge the limit price to deter entry or accept the entry? Assume his goal is maximize the PV of long-run profits.
What assumptions about the rival's response to price changes underlie the kinked-demand curve for oligopolists? Why is there the gap in the oligopolist's marginal-revenue curve? How does the kinked-demand curve describe price rigidity in oligopoly..
Calculate the quantity demanded at prices of $5, $4, and $3 and calculate the prices necessary to sell 1,250, 1,500 and 1,750 thousand s of five gallon containers.
There are literally several elected officials across the U.S. at the local, state, and national levels. The 2-major political parties remain as important to election and reelection of public officials today as ever before.
Economic costs and benefits for project
Choose a United States firm with global operations. Discuss the company's activities outside the United States
Compute the profit maximization level of activity. Compute total revenue, total cot and profit or loss at profit maximization level of activity. Compute elasticity of demand at profit maximization. Compute the breakeven level of activity.
Describe how a firm's microenvironment can determine how profitable it will be? Provide examples of organizations as well as aspects of their microenvironment which have hindered or benefitted growth.
How a competitive market arrives at equilibrium and why the price of tomatoes has risen - Discuss the factors that affect the price elasticity of demand as they apply to tomatoes and make a suggestion based on your appraisal as to the likely price..
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