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The willingness to pay could be good for sellers if they sell in a bid. However, most of the sellers have a set selling price. Hence, if the price of the good is less than what the buyer is willing to pay, it can create a consumer surplus. If it is lower than the set price, it will create a producer surplus. How do you think the taxes and other government related charges play into the buying and selling prices?
Suppose you have to store employee records for your employer, the largest company in the states. The primary key is the Social Security number.
What takes place to the equilibrium price and quantity of ice cream in response to each of the following? Describe your answers.
Explain why we cannot necessarily conclude that the typical Canadian's welfare has improved by 10-percent over the year.
After completing a complex programming project, Melanie is laid off. Her prospects for a new job requiring similar skills are good, and she has signed up with a programmer placement service. She has turned down offers for low-paying jobs.
Which of the following is an example of a good research question for a correlational study?
Give a BNF and a EBNF for each of the languages below. (a) The set of all strings consisting of zero or more as.
Discuss structural, cyclical, frictional, and natural unemployment. What fiscal and monetary policies are appropriate to fight unemployment? What type of unemployment will be affected most by these policies? Why? Which will be affected least? Why?
Illustrate the average cost, marginal cost, and marginal revenue for a firm making a positive economic profit in a short run, perfectly competitive environment. Indicate the profit. Now illustrate what will happen to this profit in the long run.
ABC Technologies, Corporation, enjoys an exclusive patent on process to atomize gasoline in platinum in combustion engines, producing substantial gains in miles a gallon
Evaluate the validity of using GDP as a measure of economic output. Explain how the consumer price index and GDP work together to measure price index change from year to year.
A country opts for free trade while some workers remain unemployed in the import-competing sector. WHY? Given real wage rate in Thailand is higher than Bangladesh
The company's cost function is estimated to be TC = 200 - 20Q + Q2, where Q is the volume per day. The firm also has the following demand equation P = 60 - 2Q, where P represents the price per unit and Q the volume of daily sales.
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