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1. Which of the following is an ideal condition for a free market? Select one: a. There are no parties, institutions, or governmental units regulating the quantity of the goods being bought or sold in the market. b. There are many buyers and many sellers, and all of them have a substantial share of the market. c. The participants in the market have strong preferences as to which seller or buyer they would deal with. d. All the buyers and sellers in the market are free to leave the market but there are entry barriers. e. All buyers have full knowledge of what other buyers and sellers are up to including quantity of goods sold, but not the prices and quality of goods being sold.
2. According to the Freedom of Information Act, _____. Select one: a. a federal agency is required to respond to a document request within 10 days b. all the documents are available for public inspection c. requesters are not required to pay the cost of locating and copying the records d. any person has a legally enforceable right to access to geological information concerning wells e. there are a total of five exceptions to the Act
Suppose that the depreciation rate increases in the Solow growth model. Using a diagram, determine the effects of this on the quantity of capital per worker and on output per worker in the steady rate, Explain the economic intuition behind your resul..
If an economy is producing at a point on its production possibilities frontier, it is:
Derive the long-run average cost and marginal cost equations, and plot them on a graph. At what level of output does average cost reach its low point?
Elucidate why it is important for managers to understand the mechanics of demand also supply in both short-run also long-run
Then make an argument for why the government may still prefer using the other approach.
If collusion is not allowed, what kind of market arrangement do you think is likely to result from competitive interactions among these four firms?
During the war, the same arms merchant often sells weapons to both sides of the conflict. In this situation, a different price could be offered to each side because there is no danger of resale. Suppose a US arms merchant has a monopoly of a special ..
write down ten results from the polls that indicate something interesting about the relative strength of the parties. Write a letter to a presidential candidate explaining what you would recommend based on this data.
The purpose of this assignment is to familiarize you with a current book about entrepreneurs, their thinking, personalities, and leadership styles. Talk about the three or four points made in the book that made the biggest impression on your thinking..
As a rule, the optimal capital structure is found by determining the debt-equity mix that maximizes expected EPS.
List the key nonprice determinants of demand and also explain exactly how each of these affects demand. List the key nonprice determinants supply and also explain exactly how each of these affects supply.
The market for grapes is given by the following supply and demand equations: Q = 120 – 15P Q = 20 + 5P a. Identify the demand function and the supply function. b. Compute for the equilibrium P* and Q* (Q*, P*). c. Compute the PED at (Q*,P*) AND the P..
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