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Using a graph, introduce a tax on alcoholic drinks in the market. How does this affect the individual firm, and the rest of the monopoly market? Differentiate between the long and short-run.Show this on a graph and explain
Discuss the relationship between shoe brands P and N, and also the type of good that shoes P can be classified as and discuss the meaning of R-square and the t-value for the parameter estimate on the Pp and PN.
Two employees will be hired at $10.00/hour/employee (including overhead and benefits). Each employee will work an average of 170 hours per month. The average revenue per customer is estimated at $7.00. The variable cost of serving each customer is..
How do costs play into your everyday life For example, why might it be cheaper to drive on a toll-road vs. a free-access interstate? Also, can you identify situations where you may fall victim to the sunk cost fallacy (we all do)
MICROECONOMICS
Many factors determine the supply and demand for labor. Identify and explain two factors that would increase or decrease the demand for labor. Identify and explain two factors that would increase or decrease the supply of labor.
In 1993 Mattel proposed merging Fisher value for $1.2 billion. In toy industry Mattel is a major player with 11% of the market. Fisher-Price has 4%.
Describe the opportunities that might be available through better use of information technology (IT) in the U.S. health care system. What might explain the system's failure to better capitalize on these opportunities
Suppose the government decides to increase taxes by $30 billion in order to increase Social Security benefits by the same amount. How will this combined tax-transfer policy affect aggregate demand at current prices
In what kind of market do you think your franchise operates (perfectly competitive, monopoly, monopolistically competitive, oligopoly)? What are the specific characteristics which make it this type of firm?
Explain why in a perfectly competitive market the firm is a price taker. Why can't the firm choose the price at which it sells its good and Leskeista produces table lamps in the perfectly competitive table lamp market.
What is the equilibrium? If the government freezes the price of gasoline at its initial equilibrium price, how much of a surplus or shortage will exist when supply is reduced as described above?
Explain how financial institutions fit into the circular flow diagram (and more specifically why they are important for economic stability and growth). In your own words, explain why financial institutions (and, by extension, financial markets)
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