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Decide whether each of the following statements is true or false and explain why:
a. Fast-food chains like McDonald"s, Burger King, and Wendy"s operate all over the United States. Therefore, the market for fast food is a national market.
b. People generally buy clothing in the city in which they live. Therefore, there is a clothing market in, say, Atlanta that is distinct from the clothing market in Los Angeles.
c. Some consumers strongly prefer Pepsi and some strongly prefer Coke. Therefore, there is no single market for colas.
What would be the long run price and quantity for this firm in a competitive market? 2. In the long run how many firms are in the industry?
Suppose that there is a decline in the cost of a unit of capital. In the long run a.) What will be the substitution effect of this change on use of capital and labor, and why How would this be shown on an isoquant diagram (a diagram isnt needed, j..
Do you think internal labor markets enhance or detract from efficiency How might one argue that the realization of dynamic efficiency is more important that achieving static efficiency Do you agree
The range of reserve requirements that the Board of Governors can set for net transaction accounts is a. 3 to 6 percent b. 8 to 14 percent c. 3 to 14 percent d. 0 to 9 percent
"Does the economic bailout of Spain and Greece spell the beginning of the end for the European Monetary Union (EMU)?"
• Identify an industry that the Internet has transformed or destroyed. • Then think of a new industry that the Internet has created. • What are the reasons behind the changes
Which of the following increases the political power of special interest groups and makes counterproductive government action more likelyA car sells at different prices at different dealerships in a local market. If a consumer has imperfect informa..
your grandmother heard you were studying economic and decided to make use of your knowledge. she is selling her house and wants to know what price to ask for her well kept house in a growing neighborhood you need more information; what did it cost..
There is a debate about whether sterile hypodermic needles should be passed out free of charge in cities with high drug use. Proponents argue that doing so will reduce the incidence of diseases, such as HIV/AIDS, that are often spread by needle shari..
You have been asked to develop a financial analysis of two projects and based on Net Present Value (NPV), Return on Investment (ROI), and Profitability Index (PI).
The contract reflects Boeing's effort to reduce costs and production bottlenecks resulting from supply shortages. The contract specifies prices and guarantees quantities of raw aluminum to be delivered to BCAG's suppliers.
Briefly describe the major categories of expected benefits and expected costs from undertaking the project and explain how and where the value of human lives saved or lost might enter this analysis, and explain whether all of these effects are addr..
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