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Explain how information flows through the layers of the OSI model. Use the postal service as the example. Make sure you clearly indicate which layer you are referring to.
Mytown uses an interest rate of 6%. What is the EAC for Mytown's policy? What is the EAC for the optimal policy? What is the optimal policy?
neither person may trade away any water to the other for exchange for more bread. Set up an Edgeworth Box to depict this situation and elucidate why it is unlikely to be Pareto efficient.
Some people seem to believe that there are goods for which the law of demand is irrelevant, goods that people just “can’t do without.” Why do economists believe that the law of demand applies to all goods. What are its implications for your firm’s pr..
In Winona, a gallon of gasoline at Kwik trip sells for $2.279. In the east end of Rochester, Kwik trip sells gasoline for $2.179 per gallon. Using demand and supply curves, explain the price differential between the two ends of Rochester. Is this d..
Comment about substitution effect and income effect when price of good one alone decreases if the goods are perfect substitutes.
Illustrate what's the equilibrium price and quantity in the free market equilibrium. what's the best tax to impose on the power plant, why.
Suppose the estimated market demand for a computer is P=1000-0.04Q and the market supply is P=0.06Q. What would the market price and output of computer that clears the market (i.e. no excess supply or shortage of goods)? Please show work. Show this o..
Elucidate the likely impact of this event on the market for gasoline and the market for small cars.
Explain how the “incidence” (i.e. “Who pays the tax”) of a per-unit tax on transactions depends upon the slopes of the supply curve and the demand curve. You may utilize graphical analysis to explain your answer as well. What function do private prop..
A severe drought hits a country and reduces farm output by 50%. short-run and long-run aggregate supply. short-run aggregate supply and aggregate demand.
What are 3 reasons why economists have been able to justify the claim that the period from December 2007 to June 2009 represented the worst economic downturn since the Great Depression?
You are in a meeting about the price strategy to adopt for a product your firm is about to introduce into a new market. Jack says, “We should use price skimming.” Jane says, “We should use penetration pricing.” What assumption is Jane making about th..
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