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A trendy French restaurant is one of the first businesses to open in a small corner of a commercial building still under construction. The restaurant has received rave reviews and has lines of diners waiting for tables most nights.
a.) In the short run (next few months), what measures should the restaurant take to maximize its profit? Explain.
b.) In the long run (next six months and beyond), how can it maximize its profit?
Cindy gains utility from consumption and leisure. The most leisure she can consume in a week is 168 hours.
Describe a sequential game facing your firm, and represent it in extensive or tree form. Compute and analyze the equilibrium of the game.
Elucidate the nature of Keynesian tax cuts under Kennedy and Supply-Side tax cuts under Reagan.
Now what will your price be? How much deadweight loss will your firm created? After the election, you decide your firm is not making enough money. So you hire the lobbying firm C&E. C&E are able to convince regulators that you should set your pri..
Describe when economists with different political views do cost/benefit comparisons, they often reach different conclusions. If their analysis is based on objective costs and valid techniques, why wouldn't they reach similar conclusions, even if t..
Explain how has technology impacted the workplace over the last ten years. What impact have these changes had on costs and prices.
Suppose two identical firms produce widgets and they are the only firms in the market. Find the Cournot-Nash equilibrium.
You're the manager of a paper mill and have been subpoenaed to appear before a joint session of the Senate Consumer Affairs and the Senate Environmental subcommittees.
Suppose the externality/public good aspects of weather forecasts and argue for or against such a "privatization" of weather forecasting.
Suppose Sally only purchases food and clothing, and her utility can be expressed as U = F _ C. Currently-What is her optimal bundle?
To the right is a list of domestic output and national income figures for a certain year. All figures are in billions. The questions that follow ask you to determine the major national income measures by both the expenditures and the income approa..
What is national saving? What is private saving? What is public saving? How are these three variables related?
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