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Refer to the Porter and Thomas paper. According to Porter and Thomas, what are sports teams doing to cause persistent shortages? How can these shortages be rational, profit-maximizing pricing strategies? You will need around 100 words to thoroughly answer this question.
Suppose the restaurant industry is perfectly competitive. All producers have identical cost curves and the industry is currently in long-run equilibrium, with each producer producing at its minimum long-run average total cost of $8.
Suppose you can hire your mechanic for up to six hours. The total benefit and total cost functions are B (H)=420H-40H^2 and C(H)=100H+120H^2. The corresponding formulas for marginal benefit and marginal cost are MB (H)=420-80H and MC(H)=100+240H.
Discuss examples from economic theory that would be estimated using the methods of simultaneous equation models.
Municipal bonds, or munis, The Efficient Market Hypothesis argues that. Which of the following is true regarding the trade offs associated with money? The Efficient Market Hypothesis argues that.
What would happen to unit sales and total revenue of the book store sold a textbook at a lower price? Would this be elastic due to the fact that a college textbook would be a necessity versus a luxury? Also, if that is the case.. Can you please expla..
Your current salary is $70,000 per year and you are planning to retire in 25 years from now. You anticipate that your annual salary will increase by $3,500 each year. You plan to deposit 5% of your yearly salary into a retirement fund that earns 6.75..
Regarding behavioral economics and social regulation: A. How has research in behavioral economics contributed to new and better social regulations? B. By definition, social regulations limit individual freedom and are paternalistic. Explain how a pol..
Would you agree with Karl Marx in saying that the Industrial Revolution and its capitalistic foundations negatively affected the working classes?
At 36 units of labor, a firm finds that both average product of labor and marginal product of labor equal 42. We can conclude that the average product curve at 36 units of labor is
Suppose that a security costs $3,000 today and Pays off some amount b in one year. Suppose that B. is uncertain according to the following table of Probabilities:
A firm's fixed costs are $600 regardless of the output; Variable costs are $5 per unit of output. TC = FC + VC. The selling price of the good is $10 per unit. State the FC function, VC function, TC function and total revenue function. Find the breake..
Describe the supply and demand shifts that are occuring. What would happen to the demand curve if the major taxi companies lowered their rates.
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