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Identify one product in your home that is made elsewhere. Why was this product imported? (Hint: think comparative advantage and mutual gains from trade)
Some oppose free trade. What are their reasons and how does this apply to the product you identified in our first prompt?
If a trade restraint (i.e. a quota or tariff) were imposed on the product you identified what affect do you think this would have had on you and your purchase?
Based on your knowledge of strategy formation, how do the economic concepts in this course affect strategic planning?
Suppose you were manager of restaurant and you were told honestly that a couple eating dinner has just seen a mouse, what would you say to them, how would you recover from this service crisis.
q1. 1. suppose mpc is 0.8 initially. households then change their behavior so that the mpc falls to 0.75. what happens
Load the Blue Spruce Light Up Data (latest file, through 2013). Extract and specify a model that predicts Cars through the gate as a function of Price and Average Daily Temperature.
Illustrate what would be a reasonable breakdown between private sector vs. public sector spending for an increment of $1. Are we talking $0.8 from private and $0.2 from public or would you suggest a bigger swing either way.
Assume you notice that more also more people are driving gas-guzzling cars.
What is per unit cost of producing 60 units of output. ATC(60)=$10 What is per unit labour cost of producing 60 units of output. AVC(60)=$6.67 What is per unit fixed cost of producing 60 units of output.
State the rule for optimum input allocation to produce a given level of output at the lowest possible cost - when two inputs are varieable and the prices of the inputs are given- and explain why it makes sense.
If you fail to make your payments to TV Land, do they have a claim to your Calculate. Does TV Land or Calculate Land have to file a financing statement.
Explain each of the following using supply and demand diagrams, With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.
Identify three roles for money: money is a unit of account, a store of value also acts as a medium of exchange.
Using the ITT Tech Virtual Library, research information on companies that have engaged in monopoly behavior, such as Microsoft, Google, or Wal-Mart, and explain how society has been affected by the monopoly behavior using that information.
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