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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:
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.
"Pumping the price war is Borders Rewards, the loyalty program that Borders Group introduced at the start of the year. Members get weekly coupons via e-mail and a ‘personal shopping day' when they can save 10 percent on most purchases on a day of ..
Should owners of a private company contemplating an IPO a sale of stock to the public release information about the company.
Describe the maximum insurance premium that the individual is prepared to pay.
Consider two policies-a tax cut that will last for only one year and a tax cut that is expected to be permanent. 1. Which policy will stimulate greater spending by consumers 2. Which policy will have the greater impact on aggregate demand
Explain how would you hope the subsiquent events to affect the price you receive for a bottle of wine.
Illustrate what has happened to the price and quantity of the substitutes and complimentary goods/ services for your selected product over the last year.
As we all know that the value of dollar depends on what determines supply curve and demand curve on the foreign exchange markets, which obviously is linked to supply and demand for underlying transactions
The highest valued alternative sacrificed as a result of a choice is: Answer the opportunity cost, which can be objectively measured by anyone. the opportunity cost, which can only be subjectively measured by the individual who chooses.
Ilulustrate what incentives are needed for business to adopt new technology.
Our economy thrives on competition. Market forces will lead company to produce the mix of goods most desired. Unforeseen events can be responded to in a rational manner.
Give a full explanation for your answers, and using a country of your choice for illustration, describe which firms are likely to gain and which firms are likely to lose from:
What is the unemployment rate? What will the unemployment rate be if the unemployed increases to 7 million and 3 million individuals become discouraged workers?
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