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Question: how long you have been a student at OCCC, and anything else you feel comfortable sharing with all of us. Tell us about any experience you might have had with the topics we will be covering in this course. Have you taken previous courses online? What do you hope to learn in this course? How will it contribute to your personal, academic, or professional goals? In other words, tell us a little about where you've been and where you're going with your life, and how this course fits into that overall plan. Next, What do you anticipate to be potential barriers or obstacles to completing this course successfully? What is your plan to overcome these identified barriers and how can the instructor or your classmates help you to be successful in this course?
This document contains various important questions and their appropriate answers in the subject field of Economics.
Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.
Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..
Explain each of the following using supply and demand diagrams, With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.
The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.
Draw the production possibility curve and a. Define consumer surplus and producer surplus.
The Australian government administers two programs that affect the market for cigarettes
How many tickets to sell to maximize total welfare.
The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled
Depict the von Neumann-Morgenstern utility index u in a diagram
What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution
Calculate gross national product and net national product
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