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“A producer who is attempting to maximize wealth (or profit) will never knowingly set their output where the demand for their product is ‘inelastic.’” Refute or prove this statement. Does your answer depend on whether the producer is a price taker or a price searcher?
What is the best practices frontier? How does this relate to competitive advantage? Explain why rent seeking competition tends to dissipate rents-to drive them down so that there are no abnormal rents?
Financial crises happen in various parts of the world. There have been many to which you can reference. Discuss the impact of financial crisis in Europe during the 2010 timeframe. What happened to bring about this crisis? What lessons can be learned ..
Compare and contrast the global marketing strategies of Samsung, Sony and Phillips after listing two or three elements of each company's global marketing strategy.
Another important law in economics is the “law of marginal returns or the law of increasing costs". Discuss in terms of your study in this course, how might you know that you are at a point of diminishing returns, or where more study will not benefit..
In 2012, Balnur taught music and earned $20,000. She also earned $4,000 by renting out her basement. On January 1, 2013, she quit teaching, stopped renting out her basement, and began to use it as the office for her new Web site design business.
q.what are the informing factors of global interdependence including the economic factors political dynamics and
Draw and explain the continuum of precariousness that we developed in class. Explain why this diagram may only apply to certain people. What would the continuum look like for a different group of people? Part-time employment may correspond to life- s..
A company currently has a machine (defender) which was purchased 9 years ago at a cost of $70,000 and an expected annual operating cost of $ 16,000. It was expected to last 15 years with a salvage value of $ 18,000. Analyze the defender (new) v. the ..
Describe the Stolpher-Samuelson theory of trade. How does it differ from the factor endowment model? What are its predicted effects on wage-inequality in (a) industrialized countries that are capital-abundant and (b) developing countries that are lab..
Supposed that two nation start out in 2013 with identical levels of output per work hour – say, $100 per hour. In the first nation, labor productivity grows by 1 percent per year. What are some examples, other than those given in the chapter of techn..
After school one day, the teacher discovers this student beating up another student and has to break up the fight. The teacher has turned to you as the vice principal in charge of discipline. Using the theories you have learned this week what do y..
Any increase in the present value of taxes implies a decrease in lifetime wealth and a decrease in the current labor supply, assuming that the substitution effect is stronger than the income effect.
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