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Show diagrammatically and algebraically cases of unitary elasticity with examples pertaining to products and services. what is the relationship between the slope and the concept of elasticity?
In general, large current account deficits have to finance by:
Discuss at least two alternative measures of national welfare that have been put forward? What are the primary strengths and weaknesses of these alternatives and discuss at least two alternative measures of national welfare that have been put f..
Senator Snodgrass says, “You economists say the economy is recovering from the recession but corporations are sitting on piles of cash and the unemployment rate is not declining. If the economy is really getting better, why aren’t more people getting..
Why manufacturer guarantees the computer for one year only. The cost of the extended warranty is $150. Analyze this proposition using the concepts you learned in the module on risk analysis.
The operating cost of a broiler is $20,000 per year for years 1 and 2 and then it increases by 6% per year through year 10. What is the equivalent uniform cost of the broiler (years 1-10) at an interest rate of 9% per year
Your firm has been sued for $3 million by a supplier for breach of contract. Your lawyers believe that there are three possible outcomes if the suit goes to trial. One, which the lawyers term “highly improbably,” is that your supplier will win the la..
Barriers to entry are forces that inhibit firms from entering new markets. These forces may result from practical and legal constraints. How do you think barriers to entry and product homogeneity affect the competitive nature of industries? For examp..
In perfect competition, according to theory, all suppliers or consumers are price takers. In practice firms like Purdue Farms (chicken) or Jimmy Dean (sausage) bring a higher price than other brands. Why doesn’t economic theory apply to these organiz..
Explain how a monopolist chooses its profit-maximizing price and quantity. The paper should then discuss how the monopolist’s profit-maximizing decision affects price, quantity traded, consumer surplus and producer surplus, compared to a competitive ..
Global outsourcing has cost the U.S. economy far more than one million jobs since 2001, or somewhere between 15 and 35 percent of the total decline in employment since the onset of the 2001 recession. What will it likely do to the overall level of U...
You have narrowed your choice of which refrigerator to purchase down to two choices. Both are used, and both will last two years. The difference between them is in the annual electricity consumption.
Suppose there are two types of people who need health insurance; high-risk and low-risk consumers. High-risk consumers have a relatively high probability of needing expensive medical care and on average incur $2,000 of medical expenses per year.
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