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Name three industries which best fit each of the three non perfectly competitive models (Monoplolistc Competition, Oligopoly, and Monopoly, and give support for your choices.
Labor force = number of employed. Labor force = population - number of unemployed. Unemployment Rate = number of unemployed ÷ (number of employed + number of unemployed) X 100.
Explain why an economy's income must equal its expenditure and why is it desirable for a country to have a large GDP? Give an example of something that would raise GDP and yet be undesirable.
You observe a positive relationship between price that your store charges for CDs and total revenue from CDs. Is demand for your CDs elastic or inelastic.
Would the employee be better or if, instead of the health insurance, she was given a £100 per week pay increase which would be taxed at 20%.
Evaluate if the company made any mistakes in its decisions over time, and recommend any changes or improvements for the future operations. Refer to the financial reports when making specific observations or recommendations.
Recognize and utilize the vocabulary, terms and theories essential to the discipline of Economics - Describe the differences between macroeconomics and microeconomics.
A potential entrepreneur is trying to decide whether to open a new health spa. she presently makes $35,000 per year as an aerobics instructor and will have to give up this job if she opens the new health spa.if she chooses to open the spa,it will cos..
Why would elasticity of demand be important to you in determining the products on which the taxes should be levied".
Explain how does capital help human productivity in relation to farm labor, office help, teaching, or government administration.
If a monopolistically competitive firm maximizes profit by producing 600 units per hour, it must be true that at 600 units per hour:
For each option calculates the profit-maximizing price and quantity. Which, if any, of these compensation schemes would alter the deadweight loss from monopoly.
Suppose that Iggi and Kurt begin trading ice cream and waffle cones with each other. Illustrate what can be said about the trade patterns between Iggi and Kurt.
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