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Choose a market for a good in your area that seems to be a perfectly competitive market. Write four or five substantive paragraphs that describes the market and answers the following questions: (Wall-mart)
Identify the buyers and sellers as well as the goods or services.How closely do real world conditions match the characteristics listed in the model?Are the sellers price takers?Do they compete using price?Is the good in question standardized?Is this market regulated by government in any wayExplain the competitive environment.
Can you select one positive and one negative example of events in your area, state, country or the world that might impact our life, careers or professions.
With lower values for gasoline than a couple of years before will Americans start spending again? If they do, what will they spend the savings on Vacations?
Discuss and explain perfect competition and long-run equilibrium. Provide detailed descriptions, definitions and concrete examples of your findings.
Elucidate the differences between private goods, public goods, natural monopolies, and open-access goods. Provide examples of each with your explanations.
Explain how did Lucas contribute to the development of the Keynesian economics. What was his concern with economic growth and development.
Consider an economy that produces only chocolate bars. In year 1, the quantity produced is 3 bars and the price is $4. In year 2, the quantity produced is 4 bars and the price is $5. In year 3, the quantity produced is 5 bars and the price is $6. ..
Illustrate the difference among dollarization, a currency board, and a fixed exchange rate regime. Do you know of any countries that have recently adopted dollarization.
Alternatively, watermelon output could be increased by 500/month with an additional 2 tons of fertilizer/month. assuming the cost of water is $0.03/gallon and the fertilizer is $25/ton, is Van Farms using an optimal combination of fertilizer and w..
Compute the equilibrium interest rate. Compute the amount of investment demand, private saving, and national saving at the equilibrium interest rate.
Illustrate what the pricing and non pricing strategies that firms rely on to compete in monopolistic competition and oligopoly market models.
SAR Publisher is a monopolist in publishing a textbook on Hong Kong economy. Besides the Hong Kong market, SAR Publisher also sells this textbook in United State.
Real money demand is greater than the real money supply, interest rates must rise to reach equilibrium in the money market as people sell bonds to obtain more money.
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