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Describe Virgin Group's competitive strategy and mount an argument in favor of or against Porter's assertion as it relates to Virgin Group. Does your critical thinking about the firm's competitive advantage bring to mind concerns, or opportunities for how the firm could exploit its competitive advantage? Do you have actionable insights about exploiting strengths of the firm or insights about how the firm should defend against its weaknesses?
A man went to his bank and borrowed $750. He agreed to repay the sum at the end of three years, together with the interest at 12% per year, compounded annually. How much will he owe the bank at the end of three years?
If short-run equilibrium GDP is above potential GDP, prices will eventually rise. A tax reduction shifts the consumption schedule downward. A superior level of technology is an important reason the productivity of workers in rich countries is high. A..
An improvement in production technology for a specific good will cause a(n):
"What is the role of rock lyrics in suicides among teenagers?" Do you think that a rock group could be held responsible for a death that occurred after a young person had repeatedly listened to their morbid, suicide-praising lyrics?
For each one of the costs below, explain whether the resource cost is explicit or implicit, and give the annual opportunity cost for each one. Assume the owner of the business can invest money and earn 10 percent annually. A computer server to run th..
If C = 1000 + 0.75 x DI while investment is I = 2000 – 20r. If government expenditures are 0, the tax rate is 1/3, what is the equation of the IS curve? What are the values for r-intercept and the Y intercept?
Use critical thinking to analyze the issue using economic concepts and theory learned in our class. Present two policy recommendations based on this issue. Use additional references to back up your arguments. Include at least one graph developed in t..
If there are fixed costs of production in a competitive industry, the q that solves the firm’s first-order condition
7) in 1988, the average wage rate was 9.45 an hour and in 2008 the average wage rate was 18 an hour. The CPI in 1988 was 118.3 and in 2008 it was 215.3. which is real wage rate is higher?
There are two firms in the market that produce pencils. The first firm’s marginal cost curve is given by MC1 = 0.055Q, while the second firm’s marginal cost curve is MC2=0.026Q. Society's benefits are given by 250-4.71Q. What is the consumer surplus ..
For several months before your vacation trip to Germany you find out the exchange rate for the peso has increased relative to the euro.
Explain why dose the profits of firms that buy their inputs in perfectly competitive market and sell their output in imperfectly competitive markets tends to increase when there is excess supply
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