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1. Identify two products that have either fallen sharply in price or gotten significantly better without price increases. Explain why.
2. If an oligopolist knows rivals will match a price cut, would they ever reduce their price?
3. Dominos and Pizza Hut hold 66 percent of the delivered-pizza market. Should antitrust action be taken?
4. How would our consumption of cereal change if cereal manufactures stopped advertising? Would we be better off or worse off?
5. Why are people willing to pay more for Dreyer's ice cream when it has a Starbucks brand on it?
A small shop sells a variety of smartphones. Suppose we know that the battery life of smartphone a is normally distributed with a mean of 15 hours and a standard deviation of 6.4. also suppose we know that the average battery life of smartphone b is ..
The crowding-out effect refers to:
you are the department manager for a thriving orthopedic center that is part of an integrated delivery system ids in
“Comparative advantage will benefit all people because everyone has a comparative advantage in something. Therefore, trade based on comparative advantage should be facilitated without undue government intervention”
You have opened your own word processing service. You have already bought a special computer needed for word processing.explain that expand your business by hiring an assistant.
Terrorist attacks foster instability and may affect productivity over the short and long term. Do you think the September 11, 2001, terrorist attacks on the World Trade Center and the Pentagon affected short- and/or long-term productivity in the U..
George has been selling 5,000 T-shirts per month for $8.50. When he increased the price to $9.50 he sold only 4,000 T-shirts. What is the demand elasticity? If his marginal cost is $4 per shirt, what is his desired markup and what is his initial ..
Suppose that budding economist Buck measures the inverse demand curve for toffee as P = $100 - QD, and the inverse supply curve as P = QS. Buck's economist friend Penny likes to measure everything in cents. She measures the inverse demand for t..
"Perfect Competition" Please responds to the following: Examine a perfectly competitive firm that you have recently purchased a product from, focusing specifically on how it relates to the characteristics of the market.
Third National Bank has reserves of $10,000 and checkable deposits of $100,000. The reserve ratio is 10 %. Households deposit $15,000 in currency into a checking account at the bank and that currency is added to reserves. What level of excess reserve..
Describe the difference between the specialist, market maker and electronic system for trading stocks. What are the benefits and detriments of each system How is the difference between the real estate market and the financial markets reflected in ..
reflect upon the it strategies that are used to encourage economic development. select two strategies and discuss how
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