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Suppose you bought a ticket to a football game for $30 and that you place a $35 value on seeing the game. If you lose the ticket, then what is the maximum price you should pay for another ticket? Assume that losing the ticket does not alter how you value it. a. $5 b. $30 c. $35 d. $65
What is gross domestic product (GDP) and what is the use of it and can a country achieve a 0% unemployment rate, explain
Even before the metals and manufacturing companies described earlier, U.S. railroads in the nineteenth century were M-form organizations based on geography
In the imperfect competitive market of jeans, Lean Jeans, Inc., recently offered rebates of $1 off the regular $50 price. Quantity sold jumped 4 more jeans from the previous 100 figure the previous month.
Graph and describe what effects would be short run production function if a new advanced process was found and how would the number of employees hired change?
Describe the difference between “money market” debt instruments and “capital market” debt instruments, and provide at least 2 examples of each type. Hint: See chapter 2 of the text.
Discuss, using examples and academic references, the statement that perfect competition gives an optimal allocation of resources but that the existence of scale economies may make perfect competition impossible.
Economists make decisions by thinking in terms of alternatives. Why do economists thinks there is no such thing as a free lunch?
Based on Problem 1, assume that G=0 in all periods but in period 1, taxes decline by 15. What happens to output/income(Y)
Airlines practice price discrimination by charging leisure travelers and business travelers different prices. Different customers pay varying prices for essentially the same coach seat because some passengers qualify for discounts and others do no..
Based upon marginal revenue or marginal cost analysis, explain how output and price are determined in monopolistically competitive markets.
Derive the Marshallian demand functions and the indirect utility function, and confirm that Roy's identity holds.
Provide two examples of actions taken by a company, government, or organization whose effect is to prevent specific markets from reaching equilibrium. What evidence of excess supply or excess demand can you cite in these examples?
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