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OPEC is described as a classical example of what type of market? Why have they had success and failure? If OPEC had only two members, Saudi Arabia and Kuwait use game theory to describe how much production each would supply to the market. What does dominant strategy mean in the context of this example? Usually, the above example is a onetime strategy. In the long run what will decide how much will ultimately be produced?
1. if an economist says the higher the price of oranges the fewer oranges individuals will buy ceteris paribus this
If the economy is in equilibrium and suddenly the level of planned investment increases by $2 billion, national income will increase by, In the Keynesian income-expenditure graph, total savings at each level of national income is indicated by
If the demand schedule for Bong's book is Q = 2000-100p, the cost of having the book typeset is $9000, and the marginal cost of printing an extra book is $4, then how he would maximize his profits.
Given the current state of energy use, which continues to grow exponentially in such countries as China and India, what measures can the United States and other Western countries take to produce more fuel-efficient
Recently, Pfizer and Warner-Lambert agreed to a ninety billion dollar merger, thus creating one of the world's biggest pharmaceutical firms. Pharmaceutical firms tend to expend a greater percentage (%) of sales on R&D activities than other industries..
the u.s. government administers two programs that affect the market for cigarettes. media campaigns and labeling
q1. what are the four major types of markets in microeconomic analysis?nbsp what are the key characteristics that
What is the consumption function and how is it related to the Marginal Propensity to Consume? 2. What is the multiplier? 3. What determines the position of the Long Run Aggregate Supply curve? 4. What is a supply shock? Give several examples.
apple computers cost to produce the components the headphones and the packaging it ships in comes to 21.77 for the ipod
A domestic shoe company distributes running shoes and tennis shoes for $95 per pair. The marginal cost of producing a pair of running shoes is $60, and the marginal cost of producing a pair of tennis shoes is $45.
I know that according to Max Weber--religion, economics,or culture are intertwined with each other. Can it be said that Protestantism and urbanization in Western Europe are also intertwined with each other?
Assume that total output is determined by the formula: number of workers × productivity = total output (output per worker) If an economy's productivity increases by 5 percent but the number of workers declines by 3 percent a year, how will the out..
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