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Economics
ANSWER THE FOLLOWING QUESTIONS IN AT LEAST 100 WORDS PER QUESTION, USE TEXT AS A REFERENCE NO OUTSIDE SOURCES ARE NEEDED. THE REFERENCE TO THE TEXT
IS: Sexton, R. L. (2013). Exploring Economics (6th ed.). South-Western Cengage Learning.
Choose a market or industry that you think is close to perfectly competitive. Then, explain whether or not your choice meets each of the characteristics shown in section 12.1 of the text book. Is the market really perfectly competitive? Can absolute perfect competition exist in the "real world?"
Take a look at the latest annual report for the Tennessee Regulatory Authority at:
https://www.state.tn.us/tra/reports/annualrpts/anlrpt1213.pdf
What types of industries does TRA regulate? Choose a specific company that would fall within one of those industries. Why is this firm (and others within the industry) regulated?
Do each of characteristics of monopoly shown in section 13.1 of the textbook apply to the firm you have chosen in question #2? Explain why or why not each characteristic would or would not apply to your firm.
The number of cell phones (CP) in the United States has been growing according to the following model CPt = CP0(1 + g)t where g is the growth rate and CP0 is the number of cell phones (in thousands) in 1995
6.1 Recognize and be able to analyze the role of unions in the work situation, and the different types of unions there are in both the U.S. and abroad;6.2 Understand and be able to analyze the role of entrepreneurship and small business ownership i..
suppose the market interest rate is 10 percent. Would you be willing to lend $10,000 if you were guaranteed to receive $1,000 at the end of each of the next 12 years plus a $5,000 payment 15 years from now? Why or Why not?
The New York Times cost $0.15 in 1970 and $2.00 in 2011. The average wage in manufacturing was $3.36 per hour in 1970 and $23.09 in 2011. by what percentage did the price of the newspaper rise? by what percentage did the wage rise?
a study of the costs of electricity generation for a sample of 56 british firms in 1946-1947 yielded the following
What are the profit-maximizing price and quantity? What will be the profits at these price and output levels?
Describe the microeconomic principles being used
Use the Porter's five forces framework to explain this pattern. Discuss possible profit-maximizing business strategies that artists, record companies, and retailers may wish to pursue.
What are the benefits and drawbacks to advertising products within schools - what other facts would you need to make a decision, and how might your decision affect the stakeholders?
On Valentines Day, the prices of flowers and chocolate are usually high compared to other times. How do the principles of demand and supply describe the reasoning behind such price increases?
If Q=K^1/3L^2 the MPl is what
The wood-pallet market contains many identical firms, each with the short-run total cost functionSTC(Q) = 400 + 5Q+Q2, whereQis the firm's annual output (and all of the firm's $400 fixed cost is sunk).
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