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A firm conducted a research about the demographics of their customers. For the study they collected data about the following variables: gender, marital status, credit rating (low, medium, high), annual income, and age. Label each variable as (a) qualitative or quantitative, (b) discrete or continuous, and (c) nominal, ordinal, interval, or ratio.
Is Publix the monopolistic competition, oligopoly, monopoly, or perfect competition? Justify your classification of firm and employ the characteristics and features of the different market structure to determine which market structure to classify ..
Employ the following equation to demonstrate why the firm producing at the output level where MR=MC will also be able to maximize its total profit
Do you think the demand for mangoes is price elastic or price inelastic? Explain your answer based on the determinants of price elasticity of demand.
Explain the difference between fixed-production technology and variable-production technology. Should the government set a goal of reducing the marginal social cost of pollution to zero in industries with fixed-production technology Should they d..
Why is marketing necessary for a practice or hospital to be successful? What considerations should be taken into account when marketing health care services or products? (Hint: Think about all the medication ads you see on TV or in magazines - how ..
Why is income inequality regarded by many people as a form of market failure and describe how tax creditsare used in New Zealand to modify the distribution of income
How will the programs affect the debt? How will they affect private investment? Is crowding out a concern in the short versus long run as a result of the proposed policies?
The workers on the first floor neither smoke nor drink and they used whiskey and cigars to re-gift to their friends and family. Since they don%u2019t consume neither of the gifts themselves, they consider cigars and whiskey to be perfect substitut..
Scottsdale Print Shop expects to have an annual taxable income of $300,000 from its regular business over the next two years. The company is also considering the proposed acquisition of a new printing machine to expand current business to offer in..
Recognize similarities and differences among common goods, public goods, private goods, and natural monopolies.
Consider the firms short run decision to hire workers. Suppose that a firm produces goods for sale in the perfectly competitive market. labor markets are competitive as well.
The economy begins in long-run equilibrium. Then one day, the president appoints a new chairman of the Federal Reserve. This new chairman is well-known for his view that inflation is not a major problem for an economy.
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