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Q1. Microeconomics is considered to be the study of scarce resources (Perloff, 2007). Here, consumers both individuals and organizations must make allotment conclusions. These 3 basic trade-offs include which goods/services are to be created, how to create them, also who gets them.
Q2. Briefly explain how these three trades-offs are determined using a good or service that you select and where the information about the product is found on the Internet:
•Which goods/services are produced in your example?•How will they be produced?•Who purchases them?
discuss the major types of financial intermediaries in the U.S. and illustrate the differences in the way assets and liabilities are recorded on their balance sheets
Elucidate the marginal revenue from the fourth worker
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.
The banking system is a fractional reserve banking system with a desired reserve deposit ratio. Banking system is a fractional reserve banking system.
What are the strength of the neoclassical models of labor supply and labor demand. What are the weakness of the neoclassical models of labor supply and labor demand.
Determined by the ability to find, attract, keep, develop, and tap into the most talented workforce that can be assembled.
One day you realize you're tired of smelling like refried beans all the time and begin thinking about starting your own business. After doing some investigation you decide to spend 15 hours per week running a photocopy service in your dorm.
the set of efficient trades these individuals would rationally make. One of the points on the set of efficient trades you illustrated in your diagram will be a competitive equilibrium.
How many popsicles will be sold/supplied each day in the short run if the price rises to $4 each per day
Based on the revised (1997) merger guidelines, would the Antitrust Division likely challenge a proposed merger between.
Distinguish between the resources market and the product market in the circular flow model.
Illustrate the solution graphically using Labor Supply / Labor Demand and Production Function diagrams.
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