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Nominal and Real Values, Growth and Per Capita Issues. Year 1965 1966 1967 1968 1969 1970 GDP ($B) 4,837 5,146 5,792 6,142 6,687 7,140 CPI (1965) 100 102 106 114 126 130 Pop. (m) 116 121 151 155 162 168 Determine real per capita GDP (1965) for 1970. 32,692 33,126 34,378 35,942 38,147
The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.
Draw the opportunity set of a consumer with an income of $1200 who faces prices of Px = 10 and Py = 5. What is the market rate of substitution between the two goods?
If the total cost of producing 2 pounds of cheese is $6 and the total cost of producing 4 pounds of cheese is $8, then:
Suppose you detect heteroskedasicity and /or auto correlated errors in your regression. What is the difference between (I) calculating robust errors versus (ii) conducting a weighted least squares or feasible generalized least squares analysis.
Explain how the market will respond to the new product. If demand is high, then it's worthwhile to make the extra investment for special facilities also equipment needed to produce the component internally.
The total civilian labor force is comprised of
Explain how the raising of short-term interest rates would affect all of the following in the United States: the inflation rate, the unemployment rate, the value of the U.S. dollar, net exports, and U.S. stock markets. Include at least one well-label..
Which of the following would be considered an example of adverse selection?
Smith and Wesson have written a new managerial economics book for which they receive royalty payments of 15 percent of total revenue from sales of the book. Because their income is tied to revenue, not profit, they want to maximize total revenue. wha..
What is the marginal rate of substitution (MRS) and why does it diminish as the consumer substitutes one product for another? Use examples to illustrate.
What are the qualitative differences between oligopolistic, monopolistic, and competitive markets? What market structure does your selected firm for group analysis operate in? What evidence can you provide?
To avoid the problem of double marginalization
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