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Taking business personally: Recognize some policy change that you propose to decrease the federal government budget deficits and debt. Estimate your position using the budget deficits and debt principle.
Suppose a firm is operating in perfectly competitive product market where the price of its output can be sold at the price p=$10. The firm can hire any number of workers at the wage of W=$50.
Find out the market structure (competition, monopolistic competition, oligopoly, and monopoly) that best characterizes the infant formula industry.
The table given below are the demand and supply schedules for television sets in Venezuela, a small country that is unable to affect world prices.
The general demand function for a good, Good A, is: Is Good A a normal good or an inferior good? How do we know exactly?
What are some of the ways these curves shift and what is the corresponding change to the point of equilibrium?
Randy Smith us hired as a consultant to a firm producing ball bearings. This firm sells in two distinct markets, each of which is completely sealed off from the other. What price should managers charge in each market?
What are Economies of Scale? Why is it Significant to understand this concept? How can one's knowledge of Economies of Scale contribute to decision making processes in organizations?
In the aftermath of September 11 terrorist attacks, the quantity of sold airline tickets in 2002 fell by a large percentage when compared to 2001. During the same time period the average price for airling tickets also fell.
Name some areas of business in the United States where the prevailing market structures have changed dramatically in last 20-years and discuss the direction of change
Discuss why is increasing per capital income necessary but not sufficient for broadly dipping poverty and improving human welfare?
Describe benefit and cost externalities. List the reasons for lack of optimal allocation of resources in each case. Explain the need for government intervention in case of market failure due to externalities. Explain why government intervention may n..
Use method of Lagrange multipliers to find the cost function c(r,w,y). Find out the average and marginal cost. Find out the interpretation of the Lagrange multiplier in part (a)? What is the importance of term (a+b) being less than, equal to, or grea..
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