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Express and Implied-in-Fact Contracts
a. Using an instance in which you bought or sold something in the last week describe the terms of an express contract that might arise between the supplier and the seller.
b. When would an implied-in-fact contract arise between the seller and a buyer?
Compare and contrast the ticket prices and product offerings of the two airlines. Use care that the fares are comparable by examining ancillary charges. What conclusions do you draw about pricing and products?
Suppose the demand curve for a monopolist is QD = 500 − P, and the marginal revenue function is MR = 500 − 2Q. The monopolist has a constant marginal and average total cost of $50 per unit. Find the monopolist’s profit-maximizing output and price. Ca..
The United States spends more on healthcare than many of the other countries but is not number one in the quality outcomes. Do you think the methods of reimbursement contribute to this outcome?
Explicidate that a profit-maximizing bundle will typically not exist for a technology that exhibits increasing returns to scale as long as there is some point that yields a positive profit.
Carbon tax could raise costs for industries that consume large amounts of energy, but some sectors are better positioned to recover the cost increases than others so Could higher energy prices hurt U.S. competitiveness? what can be done about it?
Illustrate what trends did Nokia pursue as it designed mobile phone products in the late 1990's.
According to Purchasing Power Parity, if a country has a relatively high inflation rate then its currency should be depreciating. Explain.
Define economies of scale. Are economies of scale evident in the airline industry? What is the implication for market entry? Airline passengers are broadly segmented by purpose of travel. Characterize the two major segments by price elasticity of dem..
Assume there are two firms in a market who each simultaneously choose a quantity.
What are three methods for estimating the cost of common stock from retained earnings? Which of these methods provides the most accurate and reliable estimate?
Consider an economy where 1999 is the base year used for all calculations of price indices and constant-price aggregates. The price of the average good counted in GDP was 5% higher in 1997 than in 1999 and real GDP in 1997 was $64,800. In 1998 the ra..
q. assume the industry demand for a product is p 1000 - 20q. assume that the marginal cost of product is 10 per unit.a
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