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a. What are your views regarding economic forecasting? In particular, share any experiences you may have had with business forecasts for company budgets.b. Discuss some of the important criticisms of the forecasting.
Assume that the unemployment profits provided through the private sector are raised permanently,
What is Nancy's lifetime income if she gets no schooling? What is it if she goes toschool for all 60 remaining years of her life? In words, describe the "cost" to Nancy ofchoosing to attend school for 1 additional year.
Discuss and explain the differences between short and long run costs and for the short run, discuss what the relationship is in cost theory and production theory and concept of diminishing returns?
In the short run, a firm operating in a competitive industry will shut down if price is less than average total cost, less than average variable cost.
Some commentators have argued that the failure of the “Super committee” is good thing for the economy? Do you agree?
What are the potential consequences of a country having a large overall national or public debt? If you were in the position to implement a solution for the country's long-term debt, what would it be and why?
Night Timers Co. manufactures glow-in-the dark products in 10 ft. rolls. At present the company's maximum production capacity is 140,000 rolls per year. The cost is stated as: C= $50,000 + 0.25 Q.
. In a sample of 300 houses, the sample average price was found to be $196,340. Assume the variance of house prices is 120,000,000. Let random variable X denote house price, and ? denote its unknown population mean, E(X) = ?. For each of the follo..
In the chapter we mention how prices can vary in a tourist trap. Which market, St. Louis or Chicago, was more likely to behave like a tourist trap? Explain.
Describe and discuss the model of perfect competition and adopting strategies to gain market power in the competitive industries.
w suppose that the interest rate falls to 50%, and the household decides not to borrow or lend at alll. Is the household better off or worse off with the higher interest rate?
Explain why Monopolistically Competitive firms charge different prices for their products and Oligopolies tend to all charge the same price. Explain why all businesses do not Price Discriminate.
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