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Investment Properties, Inc., hires Justus Construction Company to renovate the interior of Investment's office building. Justus sub¬mits plans that Investment approves. Justus completes the major recon¬struction, paints the interior, and buys the fixtures and furnishings. Investment rejects some of the furnishings because they do not match the plans, and subsequently refuses to allow Justus to finish the work or to col¬lect payment. Could Justus sue successfully for payment for the entire contract?
Consider the market for tuna, which is a price-taker market. The long-run equilibrium price is $3 per can of tuna, and the long run equilibrium quantity is 600 million cans per year. suppose the surgeon general issues a report saying that eating t..
Merchant banking refers to:Banking services that are only available to retail merchants.Banking services that are only available to business but not the general public.
Explain the difference between the demand curve facing the monopoly firm and demand curve facing the perfectly competitive firm.
What are the two firms' best response functions? Show you calculations and what will be the market price, the market output, the output of each firm and the firms' profits?
How does the market price of a good in a monopoly market compare with the market price of the same good in a perfectly competitive market.
Economics is profitable for a firm to continue employing additional resources?
Who has a comparative advantage in producing wine and who has a comparative advantage in producing schnitzel?
Is your explanation consistent with the fact that franchised tutoring services often charge a fixed royalty per student enrolled?
What is the equilibrium price in this market and how many cups of coffee are traded in equilibrium
suppose the poorest 90 percent of citizens actually have an income of $15,000 because each receives $5,000 of unreported income from the underground economy. what is the Gini coefficient now?
Discuss the effect (increase or decrease) of an increase in the tax rate, t, on the equilibrium income Y* using the effect of increasing t on the equilibrium solution.
Assume that a simple society has economy with only one resource, labor. Labor can be employed to produce only two commodities- X, a necessity good (food) and Y, a luxury good ( music and entertainment). Assume the economy produced at a point inside..
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