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Speaking about a trip to Switzerland, economist Daniel Hamermesh noted in an article in the New York Times that electrical outlets in Switzerland use an unusual three prong plug. Adapters for that type of plug are not typically included in adapter sets, so he and his wife weren't able to plug their computers into their hotel's outlets. Hamermesh wondered: "Why does Switzerland renounce the network externalities that would come with using standard European plugs with their standard 220-volt electricity?" How is Switzerland "renouncing network externalities" by not using standard European plugs?
shut down her business in the short run but continue to operate in the long run. continue to operate in the short run but shut down in the long run.
Draw a graph of the market for fire extinguishers, labeling the demand curve, the social-value curve, the supply curve, and the social-cost curve.
What determines whether an international environmental agreement is needed to address a given pollution problem, or whether action by individual governments is sufficient?
Identify the government department that compiles the statistics on unemployment. About how many business firms in the United States are proprietorships?
What are trade remedy laws and how do they attempt to protect U.S. firms from unfairly traded goods - what are some examples of international commodity agreements? Why have many of them broken down over time?
Discuss the main factors (supply and demand) affecting the current price of gasoline. Include at least two supply and two demand.
Suppose that there is a decline in the cost of a unit of capital. In the long run a.) What will be the substitution effect of this change on use of capital and labor, and why How would this be shown on an isoquant diagram (a diagram isnt needed, j..
if a start-up entrepreneur lacks certain competencies such as understanding cash flow or not knowing how to use social
Identify the key success factors and risks of the firm's strategy and the sustainability of profits generated by the strategy given the threat of competition.
Why do you suppose that the market clearing interest rates on bank savings and time deposits have been rising relative to the market clearing interest rates on bank loans?
Zar Island Gas Company is the sole producer of natural gas in the remote island country of Zar. The company's operations are regulated by the State Energy commission. The demand function for gas in Zar has been estimated as: P=1,000 - .2Q where Q is ..
Explain what happens to price and quantity of milk when the following events occur (you do not need to analyze the event itself but rather determine the effect of the event on supply and demand of milk):
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