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Every demand curve must eventually hit the quantity axis because with limited incomes, there is always a price so high that there is no demand for the good. Do you agree or disagree? Why?
Your instructor will select several of the best analyses for presentation to the class. If the selected article is not relevant (e. g., financial topic rather than an economics topic) or if your analysis is unprofessional in format, tone, or grammar,..
In the text, we suggested that for well-off individuals with uniform taxation, preferences for education were not single-peaked. Why might preferences for local parks and urban public transportation systems (e.g., buses and subways) also not be singl..
If firms can easily substitute another input for the one that has increased in price, there may be little increase in costs. If an input constitutes a large fraction of total costs, an increase in its price will raise costs significantly.
Give an example of how an organization may use household data and individual data as part of their CRM strategy. How would these data sets affect their marketing strategy?
According to Purchasing Power Parity, if a country has a relatively high inflation rate then its currency should be depreciating. Explain.
You have been asked by your supervisor to estimate the cumulative time remaining required to complete a production run from Unit 50 to 500. Determine the time required to complete the remaining production run (50 to 500)
Elucidate how long must a quota be in effect to have an impact. Using a demand-and-supply diagram, illustrate and explain the net welfare loss from imposing such a quota.
The model of the market for loanable funds shows that an investment tax credit will cause interest rates and investment to rise. Yet our model of how investors behave claims that higher interest rates lead to lower investment. How can these two oppos..
Elucidate why does the government create monopoly power via its patent system, when elsewhere it spends millions trying to prevent the emergence of or regulate monopoly power.
The Harley-Davidson motorcycle company, which had a copyright on the word "hog, " applied for exclusive rights to its engine sound. Why would a company want copyrights on two such mundane things?
What price and quantity will result once the patent expires and competition emerges in this market? Explain your answer.
An asset has a first cost of $20,000, O&M cost of $600 which increases $100 per year after the first year, salvage value of $5,000 and a life of 6 years. At the interest rate of 5%, what is the present worth and the future worth?
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