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Every summer, tickets are sold for a high demand event, tickets are distributed on a first-come-first-served basis at 1pm on the day of the show, but people begin lining up before dawn. Most of the people in the lines appear to be students, but at the performances most of the audience appears to be made up of older working adults (tickets can be transferred) Why is it that students pick up the tickets but working adults watch the performances?
Use the Porter's five forces framework to explain this pattern. Discuss possible profit-maximizing business strategies that artists, record companies, and retailers may wish to pursue.
Which country has a comparative advantage in producing fish? Explain why. Suppose that trade takes place between Kiribati and Tuvalu. Which good will Kiribati import from Tuvalu? Explain why.
Use the demand and supply analysis to explain how higher price of corn impact the market for Ethanol (a motor fuel manufactured from corn and can be used to power the engines of many Automobiles).
Suppose the Wal world and tarbo are independently deciding whether to implement a new bar code technology. It is less costly for thier suppliers to use one system and the following payoff matrix shows the profits per year for each company resultin..
Choose any one topic out of the following , • Water , • Energy , • Agriculture , • Forest
to the permanent income hypothesis, households will tend to react to a temporary tax cut by assuming the new tax level will be permanent.
How much is the long-run equilibrium price? How many firms will be operating in this equilibrium? Plot two side-by-side graphs to illustrate the long-run equilibrium; one should show a typical firm in equilibiurm, the other should show the market..
Karen runs a print shop that makes posters for large companies. It is a very competitive business. What is her AFC per poster (not per thousand!) if she prints 1000 posters? 2000? 10,000?
If nominal wages and productivity increase by the same amount throughout the macroeconomy, would you expect aggregate supply to increase, decrease, or stay the same What if productivity increases more than nominal wages
If you receive a free ticket to a concert, what, if anything, is youropportunity cost of attending the concert How does youropportunity cost change if miserable weather on the night of theconcert requires you to leave much earlier for the concert ..
Suppose the price of labor increases to $2 per unit. What effect will this have on output per unit of labor and is this plant subject to decreasing returns to scale? Why or why not?
Managers are very interested in how a consumer makes a choice among alternatives. In this exercise, we ask you to consider the amount of money you spend purchasing gasoline to operate your automobile for a month and any alternatives available to y..
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