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Discuss how you can use the laws of demand and supply to explain the following scenarios: Indiana, employees at a CITGO gas station intending to change the posted price of gasoline from $3.43 per gallon to $3.49 per gallown accidentally changed the price to $0.349 per gallon. A station attendant said that within minutes, "people were coming so fast that everything was crowded like a fairground.
Tell the story of your firm. What is the name of the firm? What do you produce? Where is your market? You must have a minimum of 10 employees and output of at least 100 units per month. What are your inputs (capital, labor and materials) and your ..
What price and quantity would prevail after the imposition of the tax? What portion of the tax would be borne by buyers and sellers respectively?
Briefly discuss the origin and motivations of the Luddites of the early 19th century. Do you think the Luddites were successful in their endeavors? What could they have done to better influence the role this technology would have in their lives? Are ..
Explain the statement that "an individual bank has little ability to expand the money supply unless all the other banks expand in step". Does that simply because a conduct of one single bank cannot change the aggregate money supply?
q.based on market research a recording company obtains the following information about the demand and production costs
Suppose the market for cars is unregulated. That is, car prices are free to adjust based on the forces of supply and demand.
a. Calculate the present value of net benefits for the project using the analysts' predictions.
The pharmaceutical industry has been subject to considerable regulation in bringing drugs to the marketplace. Discuss the benefits and costs to society from such a policy?
Is the United States an economically just society? Why or why not? Which view of corporate social responsibility-the narrow or the broad-do you favor, and why?
Johnny is an impoverished college student who works at a bakery full time while attending school. After spending money on rent, tuition, and books, he only has $80/month left over to spend on food. The good thing about his job is that he gets to take..
Describe how changes in technology contributed to the globalization of markets - Explain how the Internet affects international business activity and the globalization of the world economy.
Describe the characteristics of each of the following trade blocks. Be certain to explain the ways in which they are the same and the ways in which they differ.
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