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The profit-maximizing cartel, the Organization of Petroleum Exporting Countries (OPEC), would produce a greater output and charge a lower price than what would occur in a competitive market. However, it also maintains to an extent a monopolistic power in which it can influence world oil/gas/price by adjusting its level of production. What is your reaction to the OPEC?
Which of the following is an explanation of the capture theory?
Lubbock County is planning to construct a bridge across the Rio de Lubbock to facilitate afternoon skiing in the El Dusto Ski Basin. The first cost for the bridge will amount to $6,500,000. Annual maintenance and repairs will amount to $25,000 for ea..
How can we measure the opportunity cost of producing a good? Using a bowed outward production possibilities curve between ice cream and hammers, identify graphically the opportunity cost of obtaining an additional hammer.
Discuss the relationship between shoe brands P and N, and also the type of good that shoes P can be classified as and discuss the meaning of R-square and the t-value for the parameter estimate on the Pp and PN.
Social Security benefits are increased each year in proportion to the increase in CPI, even though most economists believe that the CPI overstates actual inflation. If the elderly consume the same market basket as other people.
The manager of a department store wants to determine what proportions of people who enter the store use the store’s credit cards for their purchases. What size sample should be taken so that at 99% confidence, the error will not be more that 8%?
describe the principle of utmost good faith. why is this higher standard applied to insurance contracts? what are some
the gains from specialization and trade are based on comparative advantage which reflects the relative opportunity
Based upon your own internet research, identify and comment on two supply-side initiatives included in the current U.S. stimulus package. Ensure your response includes one strength and one weakness in each of these initiatives.
you have just started work for a small company fitco that develops private fitness clubs in small towns. fitco buys or
Determine the possible circumstances under which the company should discontinue operations. Suggest key actions that management should take in order to confront these circumstances.
Assume that the typical household behaves according to Irving Fisher's two-period model, that consumption in both periods is a normal good, and that households are initially savers. Explain using a diagram how a tax cut in period two affects co..
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