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The socialist economy of Soviet Union can be looked at as one huge enterprise. Describe the main organizational task to run this or any enterprise. What are the similarities with and differences to a "normal" enterprise in a market economy?
Use the data in the table to the right to answer the following questions. What is the external cost per unit of production? What level is produced if there is no regulation of the externality?
1. What is the least-cost combination of labor and capital the firm should employ in producing 80 units of output? explain. 2. What is the profit-maximizing combination of labor and capital the firm should use? Explain. 3. What is the resulting level..
In economics, demand for a product is considered downward sloping. This implies that quantity demanded rise when price reduce.
Explain for economic concepts that you consider important. Justify your answer?Explain the importance of elasticity as a analytical tool for macroeconomic analysis?
An investor purchased 100 shares of Omega common stock at $100 a share plus $20 commission. He held the stock for nine years. For the first four years he received annual end-of-year dividends of $4 per share. For the next five years he received an..
Suppose that a delivery company current uses one employee per vehicle to deliver packages. Each driver delivers 50 packages per day, and the firm charges $20 per package for delivery. How many packages per day would each vehicle have to deliver in ..
Think the following assertion: We all benefit through having physicians available in case we require them. Therefore, the government should subsidize medical education.
What strategy was Avon pursuing until the mid-2000s What were the advantages of this strategy What were the disadvantages What changes did Andrea Jung make in Avon's strategy after 2005 What were thebenefits of these changes? Can you see any drawbac..
Suppose the equilibrium price in the market is $24 and the price elasticity of demand for the linear demand function at the market equilibrium is 1.5. Then we know that: A. demand is inelastic. B. marginal revenue is $8.
Discuss and explain the reasons why net income for a particular period does not necessarily reflect a firm's cash flow during that same period.
Assume a country has a population of 61 million, of which 37 million are in the working age population. Of those, eleven million are not in the labor force and 23 million are employed. Determine the labor force participation rate.
Oil and gasoline prices are a concern in the United States. Why does this economic problem exist from a supply and demand perspective, what can be done to improve resource allocations, and what can government do, if anything
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