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Question: Suppose the government imposes a price ceiling on gasoline. One month after the price ceiling, there is a shortage of gasoline, but it is much smaller than critics of the policy had warned. Explain why the critics' estimates might still be correct.
How can these contingency funds stabilize a state's economy? Explain the Baumol hypothesis about the effects of unbalanced growth.
Explain the most important characteristic in perfect competition, monopolistic competition, oligopoly, and monopolies and relate the characteristic to how these firms can make profits in the short run.
A firm is making a long-run planning decision. It wants to decide on the optimal size of plant and labor force. It is considering building a medium-sized plant and hiring 100 workers.
What factors need to be considered to produce an appropriatemission statement and vision statement for the organization How long or short should a mission and vision statement be
IBP Inc. is considering establishing a new machine to automate a meatpacking process. The machine will save $50,000 in labor annually.
The cross price elasticity of demand between goods A and C is -1.38. Characterize A & B and A & C as substitutes or complements - What will the consumer do to arrive at a new equilibrium.
Suppose Ed's wage is still $20 per hour, but his daily non-wage income doubled. How much does he work and spends on consumption now?
Describe the trends in the non-alcoholic beverage industry, especially the specific type of beverage category you have chosen. Justify at least three reasons why you have chosen this type of non-alcoholic beverage.
Currently 1 U.S. Dollar is equal to 64 Russian Rubles. The interest rate of the Russian Central Bank is 10%, and the interest rate of the US central bank (FED).
Pretend that you are an editorialist, and write an editorial considering whether or not you believe that monopolies should be illegal and defend your argument using pertinent economic theory.
Add an indifference curve to your graph and label the point of consumer equilibrium. Indicate Chris's consumption level of A and B. Explain why this is a consumer equilibrium. What can you say about Chris's total utility at this equilibrium?
Determine one significant benefit to an organization that decides to lease an asset that conventional lease analysis evaluation reveals has a negative NAL.
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