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Nina owns a used car lot. She signs and sends a fax to Seth, a used car wholesaler who has a huge lot of cars in the same city. The fax says,"Confirming our agrmt-I pick any 15 cars fr yr lot-30% below blue book." Seth reads the fax, laughs, and throws it away. Two weeks later, Nina arrives and demands to purchase 15 of Seth's cars. Is he obligated to sell?
Explain the origin of the Human Development Index. Explain the method of calculating Human Development Index.
Can we say that the plant in country b is more efficient than the plant in country A? Discuss in terms of both technology and economic efficiency.
Consider a group of 10 friends who are considering going on a road trip. In determining whether or not to go, each friend considers both how much they would enjoy the trip and how much it will cost them. The cost of the trip will be $500 total, and w..
Consider a market where supply and demand are given by QXS = -16 + PX and QXd = 92 - 2PX. Suppose the government imposes a price floor of $40, and agrees to purchase any and all units consumers do not buy at the floor price of $40 per unit. Please sh..
Describe what happens after the technological change. What happens to the wage in the long run? What happens to the population size in the long run?
Considering the five (5) forces of competition, choose the two (2) that you estimate are the most significant for the corporation you chose. Evaluate how well the company has addressed these two (2) forces in the recent past.
The compressor is a key component in manufacturing both refrigerators and air-conditioners.
Board of directors has directed you to choose an output level that maximizes the firm's profit. You have an incentive to maximize profits because your job and salary depend on the profit performance of this company.
What is the value of consumer surplus? What is the value of the deadweight loss created by this monopoly?
How might the university administrator lure the college athlete to choose them over others? Would this type of price control be considered a price floor, a price ceiling, or neither?
In the United States, what has been the traditional policy for curbing the market power of natural monopolies such as utilities?
Let market demand be given by the inverse demand function P = 300-2Q, where Q = q1 +q2 +...+qn. The cost function for each firm in the industry is c(qi) = F +20qi+q 2 i . Firms are Cournot competitors. Find each firm’s equilibrium output and profit ..
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