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Find an article about a current event that discusses a change in the supply or demand of a product. For example, has there been a weather event that has affected certain food crops or the availability of energy? Has a new consumer product been introduced? Or has a government regulation affected the production of a product? Provide a brief description of the article’s content and explain how economics can be used to analyze the situation and predict changes in equilibrium prices and quantities. Will the change likely persist over time, or is it temporary?
Suppose you have 10 individuals with values {$1, $2, $3, $4, $5, $6, $7, $8, $9, $10}. Your marginal cost of production is $2.50. What is the profit-maximizing price?
Which of the following represents a mandatory government outlay?
Consider an American automaker like GM with almost 400 production facilities located in 37 countries and sales in over 150 countries! To maximize profits, what decisions does GM have to make in regard to pricing and production?
q.a consumer who conforms to the von neumann morgenstern axioms is faced with four situations a b c d. he prefers a to
How would you go about activating various influencers of policy in the era of technology and social media, i.e. lobbyist, the media, public opinion, interest groups?
Regional economic integration can be seen as an attempt to achieve additional gains from the free flow of trade and investment between countries beyond those attainable under international agreements, such as the WTO. What are the pros and cons of th..
What are the pros and cons of the Economic Stimulus Bill (The American Recovery and reinvestment act of 2009). Provide your arguments and defence for a method to jump start the U.S. economy in a time of recession.
Research the stock market. What is a stock? What is a share? What is an exchange? Identify the various exchanges where stocks can be traded and discuss their similarities and differences (i.e. NYSE, NASDAQ). What types of companies are traded on each..
Leading Auto Company was established in 1920. From its founding days, the company has built its reputation on producing quality vehicles at an affordable price.
In economy A, the LM curve is very steep, but not vertical (call this the “Friedman” economy) while in economy B, the LM curve is very flat (call this the “Keynesian” economy). The economies are identical in all other respects. (a) What is the econom..
Explain what happens to consumption, investment, and the interest rate when the government increases tax rates (but keeps government expenditures constant). How does the size of the MPC affect the outcome?
Can most providers be classified strictly as price setters or price takers? What would happen financially to a healthcare organization over time if its prices were set at either full costs or marginal costs?
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