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In attempt to beef up their sales, Fizzle Cola, the #2 brand, started putting cartoon characters on their cans. This strategy worked for a while but a year later, their market share was about the same as before the cartoon cans. Blitz detergent burst on the scene with a new secret cleaning ingredient and within a year they were the number one seller. Why did these different benefit drivers have very different long run results?
Italy makes two products: cheese and wine. Italian workers can make one unit of cheese in ten hours and one unit of wine in five hours. Draw a PPF for Italy for a 100 hour time period. What is the opportunity cost for one unit of cheese? What is the ..
who are well-known to be boring, stuffy types; what could be a better way to reinforce one's credentials as a radical, innovative thinker than to skewer their most beloved doctrine.
Oligopoly is the predominant market structure in the airline industry. In the express package business, FedEx, UPS, and DHL compete in the global air express industry. In the US, FedEx and UPS are a duopoly.
Pick a topic and within your topic consider how economic forces (broadly defined) will impact technological development and how technological development will impact the economy.
Five annual depostis in the amounts of $3,000, $2,500, $2,000, $1,500 and $1,000 in that order, are made into a fund that pays interest at a rate of 7% compound
As you know, the Affordable Care Act expands coverage for low-income US citizens by giving them access to Medicaid. As you also know, not every state has taken advantage of this Medicaid expansion. What economic argument can you make for expanding Me..
Suppose that in the short run capital is fixed and labor is variable. What happens to the firm’s average cost, average variable cost, and marginal cost when the following changes occur?
Which of the following actions on the part of the Fed will result in a decrease in the money supply?
The annual demand for liquor in a certain state is given by the following equation Qd= 500,000 - 20,000P, where P is the price per gallon and Qd is quantity of gallons demanded per year. The supply of liquor is given by the equation Qs= 30,000P. Calc..
In a production run of 1000 parts, how many defects would be found (to the nearest whole number)? What is the advantage of reducing process variation?
Suppose firm 1 and firm 2 each produce the same product and face a market demand curve described by what is the Bertand-Nash equilibrium outcome?
There are two stocks in an economy. If you buy a share of stock A, you have a 60% chance of getting $50 next year and a 40% chance of getting $30. Stock B has a 10% chance of getting $200 and a 90% chance of getting $31. Assume both stocks cost the s..
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