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1. b. In at least 3 detailed paragraphs, answer the following three questions (use examples to illustrate your response): What is meant when a monopoly firm is described as a price maker? How is a price maker different from a price taker? Is a monopoly ever a price taker?
2. b. For each of the labor markets in which market power over the wage rate is present, write a paragraph describing the characteristics, implications, and provide examples.
3. a. In at least 2 paragraphs, describe why an appreciating dollar helps U.S. consumers, but hurts U.S. producers. Include why appreciation occurs and a real-world example relating to this issue.
Consider a company that uses two inputs. The quantity used of input one is denoted by x_1 and quantity used of input 2 is denoted by x_2.
Office building maintenance plans call for stripping, waxing, and buffing of ceramic floor tiles. This work is often contracted out to office maintenance firms, and both technology and labor requirements are very basic.
What is the interrelationship between the four financial statements? Why is it important to make comparisons using ratio analysis? What are the different ways you can make comparisons?
What are the characteristics of a Perfectly Competitive Market and what are the Characteristics of a Monopoly?
The Federal Reserve buy $100 million worth of government securities in open market. If the required reserve ratio is .6, determine the maximum possible increase in the money supply?
Questions: : Which of the following are likely to be fixed costs and which variable costs for a chocolate factory over the course of a month? Explain your choice.
Dunkin Donuts raises the price of its French Vanilla coffee by 15%. The demand for Dunkin Donuts glazed doughnuts will change by what percentage and in what direction?
Construct a table showing the average variable, average total, and marginal costs of paper cup production. Show your work or embed an Excel spreadsheet into your file showing the formulas you used.
Compute output, marginal cost, average cost, price, and profit at the average cost-minimizing activity level. Compute these values at the profit-maximizing activity level.
Social welfare functions embody a normative conception of the relative importance of equity and efficiency'. With the aid of diagrams, illustrate and explain this proposition.
Discuss how does the existence of money decrease the expenses of making transactions, relative to a society based entirely on barter?
Briefly Explain how the Gross Domestic Product (GDP) affected the recession in the United States throughout the late President Bush and early President Obama years.
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