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Consider one of these purchases: health care, a car, a time share condo. What elements are tangible vs. intangible? How do the tangible vs. intangible components contribute to your satisfaction or dissatisfaction with the consumption? In addition, there are companies that have traditionally been known for their excellent intangibles, e.g. Xerox in copiers, IBM in computers, who now describe themselves as primarily service companies. Do you agree or disagree? What does it take for a company to declare itself as a service organization (e.g. a percentage of business, a certain strategy or mission)? What would it take for you to believe such a claim?
No suppose that the soy industry produces differentiated products and is characterized by EOS and monopolistic competition. Auto industry is still perfectly competitive. what do you mean by the pattern of trade.
If the cost of plaster and labour is $9 per gnome, what is the lowest price of gnomes at which there is a positive supply in the long run? (Remember that in order for there to be a positive supply in the long run, producers need to get their money ba..
utilizes the Keynesian cross to predict the impact on equilibrium GDP of equal-sized rise in both the government purchases also taxes
Excludability matters because it: Any cost that is imposed without compensation on someone other than the person who caused it is called: Correcting a market with an externality through taxation is _________ correcting it through a quota. Calculate t..
If your business exports its products OR if imports factors of production...whether recent trends in exchange rates are likely to be good or bad for costs and/or revenues.
Discuss the importance of the command process and the traditional process in the making of management decisions. Illustrate specific ways in which managers must take these two processes into account.
What is an individual depositor'spayoff when he withdraws at t = 2 as a function of the number of remaining depositors who withdrew at t = 1?
In an open economy, the condition for equilibrium in the goods market is different from the condition for a balanced trade account. Explain using words or equations (or both if you wish). Draw a diagram that illustrates a situation where the goods ma..
When the Bell System was broken up, the old AT&T was split into a new AT&T in addition to seven regional telephone companies. The specific reason for forcing the breakup was to increase the degree of competition in the telephone industry. Do you thin..
Overhead at the water cooler the demand also cost estimate which were provided at the meeting are very useful.
Evalute any one economic model of such imperfect competition, and assess how well it explains the behaviour of real firms, and the results such behaviour might have upon the efficiency of resource allocation.
What is per unit cost of producing 60 units of output. ATC(60)=$10 What is per unit labour cost of producing 60 units of output. AVC(60)=$6.67 What is per unit fixed cost of producing 60 units of output.
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