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Compare and contrast how production analysis is carried out and be able to evaluate production situations using economy of scale, elasticity and other analytic tools.
Demonstrate the ability to assess market structures ranging from pure competition to monopoly/monopsony.
Explain what happens to a market when Supply and Demand are not in equilibrium. Provide two instances from your personal experience when you observed the "disequilibria" of supply and demand in the market,
How does an increase in an excise tax on cars affect the supply of cars. more cars will be made or fewer cars will be made or else.
The monetized disutility of getting an MBA degree (including the actual cost) is $10,000 for a motivated worker and $20,000 for the unmotivated worker. An employer does not know workers' motivation level.
1.using significant five items or artefacts held by the museum of london write a history of the london economy from
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The consequences of decriminalizing illegal drugs have long been debated. Some claim that legalization will lower the price of these drugs and reduce related crime. Others claim that more people will use these drugs.
On average college graduates earn significantly more income than those with less education and the disparity tends to widen into middle age. marginal external cost equals marginal private cost minus marginal social cost.
A firm’s production function is given by: f(L, k) = L^1/2 , where L is the only input into production and it is variable in both the short and long run. Draw the long-run conditional labor demand in (L,Q) space (in other words, with L on the x-axis)
Does the structure of the drug industry have any bearing on the types of errors that drug firms are likely to make that is, would a drug industry made up of numerous highly competitive firms be more or less
discuss the following questions regarding professional conduct law and your own personal valueswhy doesnt the health
how would a fall in u.s. interest rates affect canadian investment saving net foreign investment and the canadian real
Analyze the major barriers for entry and exit into the airline industry. Explain how each barrier can foster either monopoly or oligopoly. What barriers, if any, do you feel give rise to monopoly that will allow the government to become involved t..
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