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How might the firm size be impacted if there is alot of specific knowlesge? Successful entrepreneurs have managed to conert some business that were characterized by specific knowledge into ones that could be operated only with general knowledge. This transformation is called converting __ ware into __ ware. What does this mean?
Discuss the importance of standards in networking technology and in communications in general. Evaluate how standards have helped to shape commonly used devices such as cellular phones or mobile devices.
If deposits of $5,000 are to be made semi annually for ten years in an account earning 8% compounded continuously what lump sum would have accrued 15 years from now? Show all your work
Assuming that expectation theory is the correct theory of the term structure, Calculate the interest rates in the term structure for maturities of one to five years, and plot the resulting yield curves for the following paths of one-year interest ra..
In a macroeconomic context, what are implicit liabilities? Payments that the Federal government undertakes only during periods of recession. Money owed to people possessing government issued bonds.
Bill expects the inflation rate to be 4% per year over the next 5 years and Bill just borrowed $25,000 on a fixed interest rate loan over 5 years at an interest rate of 7.5% to buy a car. It turns out, however, that the inflation rate each year is no..
When the crisis hit the world financial system, XYZ felt the shock inevitably. In any case, XYZ's government couldn't afford to bail out its bank that had gotten so much bigger than its economy. Explain what happened to this country when the world fi..
The income tax is unfair to those who work hard to earn their incomes is an example of positive economic analysis.
Yummy foods, a gourmet food store, has stores all over the Chicago area. They have a reputation for undercutting prices of any competitor that tries to enter the market until the competitor is driven out of business. Which of the following statements..
Americans pay $30 billion a year I health care costs associated with smoking? How would those expenditures affect GDP? Why business managers should know economics? Explain giving reasons? Does foreign direct investment help to poor countries?
Mathematical Monopoly Problem. Suppose a monopoly firm is operating using the following information. Calculate this firm’s profit-maximizing price, quantity, and profit.
The MC curve of a profit maximizing firm must increase and cuts its MR curve from above at the firm's maximum output. The MC curve of a profit maximizing firm lies below its MR curve then rises and cuts its MR curve from below at its profit maximizin..
In certain industries, firms buy their most important inputs in markets that are close to perfectly competitive and sell their output in imperfectly competitive markets. Cite as many examples as you can of these types of businesses.
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