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What are the characteristics that define incremental/do better innovation, radical/do different innovation, and existing frame/new frame innovation? Which innovation activity is the most risky, and why?
Are monopolies and oligopolies always bad for society? Provide real world examples of where this may be the case to strengthen your position. Provide at least one example of a case where having a monopoly or oligopoly may actually benefit the society..
Clarify what happened to the profit maximizing output rate when input costs were increased.
Income elasticity can be either positive or negative depending on an item we are considering?
In 2008 tolls were raised on Bridge X. Consequently, bridge traffic decreased 40 percent and revenues rose 170 percent. Compute the price elasticity of the demand for access to Bridge X
Why would elasticity of demand be important to you in determining the products on which the taxes should be levied".
(a) Should the company make its own spare parts or buy them from an outside vendor (b) Should the company continue to service the equipment it sells or ask the customers to use independent repair companies (c) Should a company expand its business to ..
Do these public goods conform to the law of demand. For which public supplies is demand price elastic.
Suppose that the pre tax price of gasoline is $1 per gallon. A tax of $0.50 is imposed and is paid by consumers to the government. What must the gross price of gasoline be after the tax so that the consumer tax burden is equal to the producer tax bur..
Assumes the perfectly competitive firm is in long-run equilibrium also there is an rise in Demand
Illustrate what is the effective rate of protection for sneakers.
Illustrate what will be the level of output and price in the long run if this industry were perfectly competitive.
First National Bank receives a deposit of $5,400. If there is no slippage, explain how much could the money supply expand.
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