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Think of a business company you recently visited [such as Walmart, Home Depot, Red Lobster, Barnes & Noble, McDonald's, etc.]. What motivated producers of all individual iteams in the store to make them and offer them for sale? How did the producers decide on the best combinations of resources to use? Who made those resources available, and why? How does the market decide who will get the goods and services? Who decides whether these particular products should continue to be produced and offered for sale? Explain how do these decisions differ between capitalist and socialist systems?
Explain why competitive markets normally lead profit maximizing firms to make choices about resource use that lead to an "efficient" allocation of resources to the market?
Then the image of a company goes up as graduate students use theorganizations products." Does such action square with a company's objective of profit maximization
Suppose that two companies are duopolists that produce identical products. Demand for the products is given by following linear demand function:
What was the growth rate of nominal GDP between 1999 and 2000? (Note the growth rate is the percentage change from one period to the next).
Brian and Allen are thirty years old with identical academic records and job history. Both currently have jobs paying $40,000 each year.
The following item appeared in a major daily newspaper: does this observation in fact violate laws of supply and demand.
Explain who would the main beneficiaries be of tying Social Security
Is the compensation scheme at your present place of employment consistent with a reasonable solution to the agent principal problem?
Suppose Harrod-Damar model with fixed capital-output ratio. Suppose that the country saves 20 percent of its income and has a capital or output ratio of 4.
A company analyse it has the following short-run demand. What initial price should the firm charge.
You are a pricing manager at Argyle Inc. - a medium-sized firm that recently introduced a new product into the market. Argyle's only competitor is Baker Company, which is significantly smaller than Argyle.
Suppose the externality/public good aspects of weather forecasts and argue for or against such a "privatization" of weather forecasting.
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