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Suppose that you are a big fan of the Harry Potter books. You would love to own a copy of the very first printing of the first book, but unfortunately you can't find it for sale for less than $5,000. You are willing to pay at most $200 for a copy, but can't find one at that price until one day in a used bookstore you see a copy selling for $10, which you immediately buy. Are you being irrational if you keep the copy rather than sell it?
market power may produce a level of output greater than its profit maximizing level of output to gain market share and block entry of new firms. What challenges does the firm face to sustain this practice?
The U.S. government administers two programs that affect the market for cigarettes. Media campaigns and labeling requirements are aimed at making the public aware of the dangers of cigarette smoking
the web site amazon.com once aimed to be the worlds largest bookseller. now the company offers a wide range of products
suppose the chairman and chief executive officer of general motors has decided to a raise the companys auto prices by
We can examine the effects of a subsidy with a simple supply and demand model. Suppose the graph below shows the market for kerosene in Indonesia. The line labeled S1 represents
Running red lights creates potential danger to pedestrians as well as other drivers. But, people run lights all the time because they consider just their additional private benefits from getting through the intersection a bit quicker than if they ..
Protectionist trade policies are often enacted with the political intention of strengthening exports, and hence GDP. Examples of protectionist trade policies include quotas and import taxes. What is the impact on overall GDP?
Connect to any search engine on the Internet, such as Google and search for the word "statistics." How would you characterize the different types of sites that you find there?
question suppose we can divide all the goods produced by an economy into two types consumption goods and capital
What is the internal rate of return on this investment? Assume that the cab is paid for at the beginning of the ?rst year, but that the annual cash ?ows happen at the end of the year.
Please put the quantity of Good X on the horizontal axis, and the quantity of Good Y on the vertical axis. Be sure to label your graph carefully and accurately. What is the slope of the budget constraint?
Given you the opportunity to integrate past course work in exploring the major challenges and technological transformations associated with modern logistics. Based on this course and previous courses, speculate on what you anticipate to be the..
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