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Select a product or service you use on a regular basis and discuss how the price you pay for that product or service is the result of a market economy.
Discuss how the determination of the price for that same product or service would be set in a command economy. Explain your rationale.
Compute the profit at the end of each year if the hospital continues to use the traditional method for surgical operations and compute the profit at the end of each year if the hospital uses a Robotic Surgery Machine for surgical operations.
The government dislikes smoking, and likes tax revenue. If they wanted to increase the after-tax price to $10 per pack, what size of excise tax must be placed on sellers? How much revenue will it raise? What will be the Deadweight Loss?
A study has estimated the effect of changes in interest rates and consumer confidence on the demand for money to be: ln M = 14.666 + .021 ln C ? 0.036 ln r, where M denotes real money balances, C is an index of consumer confidence, and r is the in..
Suppose the demand curve for a monopolist is QD = 250. - .25P,and the marginal revenue function is MR = 1000 - 8Q.The monopolist has a constant marginal and average total cost of $45 per unit. Find the monopolist's profit-maximizing price.
Assuming that American imports of wine are a small part of total world wine production, draw a graph for the U.S. market for wine under free trade. b.) Now suppose that a tariff is place on the importation of wine into the United States to protec..
Differentiate the real exchange rate and the nominal exchange rate and describe two reasons why purchasing power parity does not hold for all goods and services.
How much insurance should I buy to be fully insured and what is a fair insurance premium?
Calculate the control costs under the tax policy and compare their total to that achieved under the command and control policy in (d). Which policy is more cost effective? Why do you expect this finding to be true in general?
What was Morita drawing and what did he know about costing that the chain store representative was overlooking? Be sure to describe or chart the shape of Morita's costing sketch in your answer.
Find the revenue earned by each bakery. From that revenue subtract the bakery's variable cost and compute the firm's short run economic profit.
Suppose that the banking system is in reserve equilibrium. The Fed conducts an open market buy of Treasury securities in the value of $1 billion.
Many people shy away from careers in selling, often because they think they are not outgoing enough, or because salespeople are dishonest or pushy. In this weekly research paper, describe your most memorable experience with a salesperson that was ..
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