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1. One of the scarce resources that constrain our behavior is time.
Each of us has only 24 hours in a day.How do you go about allocating your time in a given day among competing alternatives?
How do you go about weighing the alternatives? Once you choose a most important use of time, why do you not spend all your time on it? Use the notion of opportunity cost in your answer.
2. Which of the following statements are examples of positive economic analysis? Which are examples of normative analysis?
a. The inheritance tax should be repealed because it is unfair.
b. Allowing Chile to join NAFTA would cause wine prices in the United States to drop.
c. The first priorities of the new regime in the Democratic Republic of Congo (DRC, formerly Zaire) should be to rebuild schools and highways and to provide basic health care
You want to start a company, and are trying to decide between two different industries. You are doing your final research before you write your business plan. Industry A has 20 firms and a Concentration Ratio (CR) of 30% What is the name for this ..
Which are the most important hypotheses that follow from this theoretical approach to geographic mobility. Discuss how higher proportional and progressive income taxes are likely to affect the mobility decision.
The nation of Aquilonia has decided to end its policy of not trading with the rest of the world. When it ends its trade restrictions, it discovers that it is importing rice, exporting steel, and neither importing nor exporting TVs. We can conclude..
Assume that the consumption schedule for a private open economy is such that consumption C = 50 + 0.8 Y . Assume further that planned investment I g and net exports X n are independent of the level of real GDP and constant
The firm's president concurs with the opinion of the executive vice-president and As the head of marketing you respond with a memo pointing out that the price elasticity of demand for the firm's product is about -0.5. Why is this fact relevant?
The profitability of the leading cola syrup manufacturers, PepsiCo and Coca Cola, and of the bottlers in the cola business is different. PepsiCo and Coca Cola enjoy 81 operating profit as a percentage of sales; bottlers experience only 15 operatin..
How does the article support the Simple Circular Flow model and how does the article support the Law of Supply and Demand?
I have recently been employed by a new company selling electronic dog feeders. My customer has asked me to gather some information on the supply and demand for feeder,
Higher interest rates have an impact on the value of the dollar. What is the effect and how does this relate to foreign trade?
Individual investors lost millions and the NASDAQ (the stock exchange for most Internet companies) came tumbling down. What happened? Why did it happen? What could have been done to stop this unsafe surge in valuation?
What specific standard is applied to a firm whose only contact with a forum state is through its Internet site? If you had an eBusiness, what could you do in order to limit your liability to suit in multiple jurisdictions?
What is predatory behavior What does it mean to sell below cost How might predatory behavior be camouflaged in advertising or some other action by the firm When might selling below costs as you defined it
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