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Determine whether the following transactions involve spot exchange, contracts, or vertical integration. Explain.
1. A major oil company refines gasoline from crude oil produced by oil wells that it owns.
2. Transcontinental, an interstate natural-gas pipeline, has a legal obligation to purchase a specified amount of gas per week from a well owned by Fred Smith in Enid, Oklahoma.
3. A cabinetmaker purchased a dozen wood screws from the local hardware store.
4. An electric utility purchases coal from an underground mine
1.describe developing countries and how they differ from industrial market economies. how can international trade aid
Suppose a consumer chooses between two types of flowers of his garden: tulips and roses. Graphically (no math needed) show the income and substitution effects for an increase in the price of roses given the following preferences.
Assume you are an aid to a government official planning on some recently proposed excise tax on welfare of her constituents.
britain is proud of its national health service nhs. in 1948 the national health service act stipulated that the
consider a group of college students who all receive a 1000 money endowment from their parents at the start of both the
1. supposenbsp x n. that is x has a normal distribution with mu30 and sigma2144.1a. find a transformation of x that
The opportunity cost of the debt is: The interest payments on the debt. Less of an issue if the economy is below full employment since crowding out is less likely to occur. Not an issue if the debt is financed internally. The decrease in public-secto..
There are 10 firms of equal size in an industry. If 2 of the firms merge (a) find the new concentration ratio; (b) find the new herfindahl-hirschman index.
problem two plants production. a firm has two plants that produce the same good. the cost functions for the two plants
A combination of low prices with strong competition by foreign competitors and so-called "legacy costs" of unions are cited as the primary reasons why so many steel companies are filing for bankruptcy. In 2002, as Brownstown Steel Corp.
A growing number of businesses-including videogame developers, cigarette companies, soft drink producers, liquor marketers, and fast food chains-are feeling the heat from government, the press, and society at large for encouraging harmful
the company had purchased 58000 of inventory from zahn a vendor approximately 3yrs ago. as of today the balance of the
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