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Which of the following is true about perfect competition?
a. In perfect competition, a firm's accounting profit is the same as its economic profit.
b. In perfect competition, each firm can set its own prices in the market.
c. In a perfectly competitive market, a firm's long-run economic profit is zero.
d. In a perfectly competitive market, each firm faces a downward sloping demand curve.
You manage a resort and are considering installing one of two different vending machines, Soda or Candy. The net cash flow for each machine stays the same for each of the four years that it lasts. Key information about each machine is below. Cash flo..
Prepare a post-closing trialbalance
Read the paper “The Great Depression, the New Deal and the Current Crisis” and answer the following questions: What were the similarities and difference in the economic context that preceded the Great Recession, as compared to the reasons that preced..
Discuss how a person's moral development influences their risk of committing crime. Using a search engine such as "Google" search for "Cesare Lombroso". How were Lombroso's beliefs viewed during his time
Jessie Romero offered to deliver two trade in vehicles- a 2003 Mitsubishi Montero and a 2002 Chvrolet Silverado pickup- to Scoggin-Dickey Chevrolet Buick, inc,. in exchange for a 2006 Silverado pickup. Scoggin-Dickey agreed. did the dealership have ..
Explain in your own words "What Is The World's Happiest, Most Productive Country?" and Why? Human resources people worry a lot about worker productivity and “engagement,” a.k.a. happiness. But are the world’s happy workers the most productive?
Southwestern Moving and Storage (SMS) buy a large-capacity trailer truck for $115,000 to provide short-haul earth moving services. SMS is planning selling the truck in seven years for a price of $45,000. Construct the cash flow diagram. Calculate the..
What due process rights are contained in the U.S. Constitution? Give examples. What is procedural due process and why does it exist? Do you think any of these rights should be revoked at any time? Which ones
Suppose there are two types of shirts available to Carl: red shirts and black shirts Carl is always willing to exchange three black shirts for one red shirt. What type of preferences is mike exhibiting? Are Carl's preferences convex, strictly convex,..
What are the benefits and challenges when implementing Industrial policy? How does comparative advantage relate the implementation of industrial policy?
Elucidate why relatively flat as opposite relatively steep worker demand curves are more consistent with the empirical observation.
What indictors are evident that there is too much or too little money within the economy? How is monetary policy aiming to adjust this?
What present expenditure is warranted for business that is expected to produce a savings of $8000 per year that will decrease by $800 per year for nine years with an interest rate of 10%? Draw a cash flow diagram that depicts the situation as well..
What can be said about the benefits and problems of each dimension (economic, cultural, political and environmental) of globalization? Is globalization a positive force overall?
Which of the following would shift a supply curve in a perfectly competitive market for a good? Assume that the wholesale skim milk market is perfectly competitive. Suppose demand is described by P=5.10-0.80Q and supply is described by P=1.90+0.20Q. ..
Assume that you were ready to buy a custom tailored dress (or men’s suit) and you are prepared to pay up to $200 for it. Also assume that the tailor is prepared to sell that item of clothing for as little as $100. When you arrive at the tailor shop, ..
If the company issues debt to finance the project what would be the value of the company. What would be the value of the levered equiy.
Which of the following institutions is NOT part of the shadow banking system? An investment bank is susceptible to events similar to bank runs, and may collapse if: The main difference between the financial crisis of 2008 in the United States and the..
The relevant cost index was 120 4 years ago. The cost then for a gas station tank of 1,500 gallons was $40,000. We want to now purchase one size 4,500 gallons but the purchased price cost index is now 300. Assuming a power law size model with exponen..
The future of cities in the united states and in other countries will be determine by their abilities to benefit from the _____________ and to minimize or counterbalance the __________________.
Historical data suggests that in the athletic shoe industry, the price elasticity for shoes is approximately -0.67. Explain what price elasticity is, and how to interpret the stated elasticity for athletic shoes of -0.67. Using the price of $100 and ..
Assume an increase in England’s economic growth. Holding everything else constant, we can expect:
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