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Which of the following would reduce the supply of microcomputers? A technological improvement that lowers the cost of producing the computers Higher wage rates for the workers that assemble the computers A reduction in the price of computer chips used to produce the computers A reduction in the price of computers
Explain why non-governmental organizations (NGOs) like the cooperatives described in the Fair Trade material play an important role in the economic development of developing countries. Why do the governments of these countries require help to protect..
Wilson has been producing tennis racquets for many decades and continues to implement strategies that make it a leader in the tennis racquet industry. Suppose that when wilson and its largest rival, Head advertise, each company earns $0 billion in pr..
Jay Wechsler agrees to purchase a car from a local dealer, the Con Car Co. The purchase price is $15,000. Jay has the cash to pay the entire amount and wants to do so. Con's sales manager ises the following argument to convince him to finance the car..
We have examined four market structures so far-- (perfect) competition, monopolistic competition, oligopoly and monopoly. Please pick one market structure and find a (few) representative firm and explain why this firm's behavior is consistent with th..
A monopolist with total cost function T C = 30Q + Q^2 is facing a market demand given by P = 150 − Q. a) What is the optimal quantity and price the monopolist will set on this market? (Q=30, P=120) b) What quantity and price would this firm set if it..
q1. 1. give an example of an organization or business in your area that performs the form function and explain why you
Explain the effects of each of each of the following factors on the economy’s price level and real GDP. Illustrate your explanations with appropriate diagrams.
Working at home (preparing meals, taking care of children is not counted as part of GDP. Such work also doesn't constitute employment in labor- market statistics. Calculate the measured employment and unemployment and the measured labor force for eac..
Consider the iron ore production industry, and assume that there are just two producers, FM and BHP. Initially assume that both firms are identical in terms of their production costs. If the two firms can cooperate, what should they do in order to ma..
Every good produced creates income for the owners of the factors of production that created the product or service. For a recent purchase you made, try to list all the types of factors of production involved in making the product available, and try t..
How is efficiency related to the number of firms in an industry characterized by strong economies of scale? Efficiency is unrelated to the number of firms in the industry and therefore unrelated to economies of scale.
A lone shepherd can graze 10 sheep per year in a meadow. Each additional shepherd who uses the meadow reduces the number of sheep that can be maintained by one per shepherd. how many shepherds will lead their flocks to the meadow every year? What are..
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