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Q1. Competition in quality and service may be just as effective as price competition in giving buyers more for their money." Do you agree? Why or why not? Explain why monopolistically competitive firms frequently prefer nonprice competition to price competition?
Q2. Rashid is a frequent flier with a major airline. His fare is reduced by 25 percent after he flies 30 000 km per year and then to 50 percent after he flies 60 000 km per year. Draw Rashid's budget constraint.
Disposable personal income equals personal income and two factors are the keys to determining labour productivity
George and John, stranded on an island, use clamshells for money. Last year George caught 300 fish and 5 wild boars. John grew 200 bunches of bananas.
The setup cost is $100 per order up to 99. For orders of less than a pallet, the setup cost is $200. The setup cost for pallet loads is $1000. The holding cost is 1% of the purchasing cost per item per week.
Determine the new equilibrium price and quantity and how much tax revenue does the government earn with $6 tax.
Flora's Flowers operates in a perfectly competitive market. At the point where marginal cost equals marginal revenue.
Competition in the market is such that each of the firms independently produces a quantity of output.
Select the most serious disadvantage of globalization (in your opinion) and make at least one recommendation
MMM expects to generate $60,000 in earnings that will be retained for reinvestment in the firm this year.
Limited partnership arrangements alleviate which traditional problem associated with real estate investments.
Calculate gross national product and net national product
In the context of share holder maximization model of a firm, what is the expected impact of each of the event on the value of the firm?
Assuming labour demand is downward sloping and that the labour market is competitive, what happens to national income as a result in immigration.
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