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Mary,Janet and Samantha chose each other for a group project since they new that they were all high achievers. Once the project rolled around however, their group actually did more poorly than the group where all the members knew that others were slackers. How did that happen?
Compare the price and output decisions of a profit-maximizing firm under conditions of pure competition, imperfect competition, and small oligopoly. Show that your answer does not depend upon the cost structure of the firm. What are the social implic..
Recently, the average rate paid by banks on savings accounts was 0.45%. However, at the same time, inflation was around 1.50% what was the average saver’s real rate of interest on his/her earnings? (b) Banks expect that the rate of inflation in the c..
Find out equilibrium cost and quantity. Illustrate on your graph how a rise in cost of automobiles would affect gasoline market.
A bakery would be willing to supply 500 bagels per day at a price of $0.50 each. At a price of $0.80, the bakery would be willing to supply 1,100 bagels. Using the midpoint method, the price elasticity of supply for bagels.
Illustrate what is the maximum amount you will pay for the new process. Suppose that the new process must pay for itself by the end of the first year.
A nation benefits from international trade if it:
The competitive rental rate of machines (capital) is the sum of forgone interest and depreciation costs the machine’s owner must pay for one period. In the case of machines that do not depreciate, the competitive rental rate of machines (capital) is..
What do Card and Krueger find regarding the effects of increasing the minimum wage on employment? What is a possible problem with the study? Tell me an economic story that would explain their results.
If there is a 10% decline in the cost of women's fur coats and a 25% increase in quantity demanded Illustrate what is the elasticity.
From an economist's perspective, an important consideration for policies to address global warming is: When a producer cannot get all consumers of their product to pay for enjoying it, such as in the case of a fireworks display, then we'd have a dema..
We can be certain that in the short-run a monopoly will produce the level of output that minimizes the cost on per unit basis. A well developed financial system helps reduce the effect of the initial investment requirement as a potential barrier to ..
Christopher Ahlberg, CEO of Recorded Future (RF) has a decision to make about the direction of his company. Recorded Future’s “temporal analytics engine” is a set of quantitative and visualization tools that could help predict future events from past..
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