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Imagine a large multinational firm producing consumer products which announces to cut 20,000 thousand jobs, close 100 plants and rely more on the internet to purchase its supplies. Imagine that the multinational plans to use part of the saved money to increase the promotion of some of its leading brands with the hope to boost sales and increase profits. If the multinational meets these targets what is likely to have happened to its total costs, total revenue, average costs and average revenue? Explain your answers supporting them with theory and illustrations (graphical and/or numerical).
Many hotels charge higher prices during the holiday period and yet there is higher demand for hotel accommodation during these periods. Is this a violation of the law of demand? Explain your answer and use theory and illustrations to support your arguments (graphical and/or numerical).
Traditionally, two% of the citizens of US live in a foreign nation because they are disenchanted with United States politices or social attitudes. In order to test if this prportion has raised since the September 11, 2001, terror attacks, United Stat..
Choose either the European Union or the North American Free Trade Arrangement, and answer the given questions based on your choice:
What are some ways public policymakers can reduce demand of cigarettes (shift of the demand curve)? Assume the government decides to implement the tax on cigarette manufacturers in order to raise the price of cigarettes. How much does the amount of..
You have been employed to manage a small manufacturing facility which has cost and production data given in the table listed below.
Assume a decrease in consumers' incomes causes a decrease in the demand for chicken and an increase in the demand for potatoes. Which good is inferior and which is normal? Explain your reasons.
When Burton Denson graduated with honors from the American Trucking Academy, his father gave him a $350,000 tractor-trailer rig. Recently, Burton was boasting to some fellow truckers that his revenues were typically $25,000 per month
Compute real GDP for 2004 and 2005 using 2004 prices. By what percent did real GDP grow? Compute the value of the price index for GDP for 2005 using 2004 as the base year. By what percent did prices increase?
In the competitive industry, reduction in property tax rate on fixed capital (plant) would reduce the fixed cost of all firms. This would have the following short-run effects on P, Q, and q respectively.
If the total cost of producing 20 units of output is $1000 and the average variable cost is $35, what is the firm's average fixed cost at that level of output?
Supposing the marginal cost curve is for a competitive industry as a whole, find out the profit-maximizing level of output and price.
Describe the phenomenon of market foreclosure. Specifically, describe how a vertical merger may "substantially lessen competition or tend to create a monopoly" through virtue of market foreclosure.
Each instance which follows is an example of one of four types of market failure (imperfect market structure; the existence of public goods; the presence of external costs and benefits; and imperfect information).
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