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Major events in our country and around the world tend to have economic advantages for some segments of society and disadvantages for others. Determining who benefits can be tough for negative events, but it's especially important in order to prevent the unscrupulous from capitalizing on them. Consider the following events and trends, and determine possible winners and losers from an economic standpoint.
What fraction of its oil consumption does it have to import and is it strange that even though the country is a net importer of petroleum, it exports some petroleum too?
TC=0.2Q^2-5Q+30(Q^2 means Q square) a) What is its corresponding marginal cost curve b) If the firm faces a price of $6 per unit, what quantity should it sell c) What profit does the firm make at this price d) Should the firm shut down
Using calculus, show that the demand and supply curve have constant elasticity along their entire length. What are the values of the demand and supply elasticities?
Outline a microeconomic reform issue that is relevant to the Australian economy and how successful do you think these reform measures were and say why referring to some data or research that has been performed?
Assume that you get a summer intern job and a recession start while you are there. Prepare a memo to your boss, who is a member of Congress,
Suppose that the most popular car dealer in your area sells 10 percent of all vehicles. If all other car dealers sell either the same number of vehicles or fewer, what is the largest value that the Herfindahl index could possibly take for car deal..
Can you articulate how macroeconomics and microeconomics come into play in the context of firm decision-making in a global business. Please provide an example.
Draw the impact of this illness on the equilibrium de?ned in exercise 5. How will it change his equilibrium allocation of earnings and labor-leisure?
What market structure is used to benchmark allocative efficiency and why do we use it? Illustrate and explain using a diagram
Would you expect the price elasticity of demand to be higher at the level of an individual school (e.g., Baker) or at the aggregate level
Explain why inflation is a main concern for an economy, and examine how well inflation in Australia has been managed by the monetary authority.
When Wal-Mart locates in a smaller town, often the local retailers (e.g., hardware, clothing, and appliance stores) are unable to successfully compete and are driven out of business.
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