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Suppose you have been hired as an economic consultant to increase your client's sales revenue, and you discover that your client's customers are price inelastic. What suggestions do you have for your client in regard to using changes in your client's price to achieve this objective?
Karen has kept her entire life savings, $50,000, in a floor safe underneath her bed. This morning, she make a decision to deposit her savings in a checking account at Cambridge Bank.
Illustrate what type of fiscal policy did the Congress enacted while the effects of Hurricane Katrina.
Please Analyze the supply and demand of goods or service of Subway restaurant, think what your Subway produces. Determine some things that would change the demand for their product?
Elucidate how each of the following changes would shift the aggregate demand curve.
Economists are often criticized for making assumptions. Explain why are assumptions necessary? To think about this, you might consider an assumption that is often made,
Is the value of a house built in 2000 and resold in 2011 included in 2011 GDP? Why or why not? Would the commissions for the real estate agent who helped buy (and sell) the house in 2011 be counted in 2011 GDP? Why or why not?
Illustrate and fully explain using an example of relevant cost (a cost whose value does affect the optimal decision) and an example of irrelevant cost (a cost whose value does not affect the optimal decision) to the business regarding this decisio..
Explain how economies of scale and scope can lead to a larger business model. Will a firm that has one or both be bothered by antitrust legislation? Why/why not?
United States has absolute advantage over many countries in production of most goods and services. Yet, the country is running the record trade deficit year after year. The current trade deficit is about six percent of the country's GDP. Is it a ..
A) Draw a graph illustrating this monpsonistic scenario with employer discrimination. Note employment and wage for black players and for equally talented white players. B) Explain why in this scenario both the employer and black employees are worse..
The “Take It Home Today” promotion guarantees buyers of new plasma TVs that they are entitled to get any sale price the company might offer for the next 30 days. Do you think such a policy will increase demand for electronic appliances.
Because government-operated firms do not have to make a profit, they can usually produce at a lower cost and charge a lower price than privately owned enterprises." Evaluate this view.
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