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Often people (firms) fail to cooperate with one another even when cooperation would make them better off. Why? Use examples both numerical and explanations to make your case. Give an example of a real world situation where two or more firms in a certain industry would be better off if they came together and behaved like a monopoly.
Describe how McDonald's and Wal-Mart elucidate changes in the macroenvironment affect individual firms and industries through the microeconomic factors of demand.
Elucidate the marginal cost of a string. Compute marginal revenue and marginal cost for each quantity.
In a production run of 1000 parts, how many defects would be found (to the nearest whole number)? What is the advantage of reducing process variation?
How large is the bias in the CPI due to not immediately incorporating new goods.
after the fourth you wince, "No more, the after-taste is getting to me. I need water." What economic principle does this scenario illustrate? Define the principle.
Explain how the economy can adjust in the long run to restore full-employment equilibrium. Draw a graph to illustrate this adjustment process.
Which method is more likely to be technically efficient. Illustrate what is the probability that she wins.
An economy has 110,000,000 people employed 8,000,000 unemployed, and 4,000,000 discourage workers. The conventional measure of the unemployment rate is what percent?
Derive also graph the MC function. Conclude the cheapest way to produce 20 units. Conclude the cheapest way to produce 12 units.
What do you understand Spencer and Kate are the only two demanders of lemonade.
was low at a point and time in past human capital is also relevant never ever use selection bias! Equipment is it investment or is it technological change.
Suppose there is an early freeze in California that reduces the size of the lemon crop. Elucidate what happens to consumer surplus in the market for lemons.
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