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A. Explain how the prices determined in competitive market in theory? describe who the price were determined in P.O.W Camp. Discuss weather mechanism of price determination in P.O.W Camp is consistent with the theory?
B. there was an attempt to fix the prices but results in failure. explain why the attempt failed? Cigarette was used as currency. explain why?
C. what was a problem caused by using cigarette as currency?
Crew Brew produces a popular brand of beer in its mini-brewery located on a small river in Kentucky. Assume that capital can be purchased for $8 per unit, and labor costs $6 per unit. What is the optimal combination of inputs for the firm to employ..
utility if a function of income (I), given by: \(U = 101\) as long as I is less than or equal to 300. If I is greater than 300, your utility is a constant equal to 3,000. Suppose you have a choice between having an income of 300 with ce..
Consider the following game: There are 5 pirates on a boat, conveniently named P1, P2 P3, P4 and P5. These 5 pirates have just dug up a long lost treasure of 100 gold pieces. They now need to split the gold amongst themselves, and they agree to do..
WHAT IMPACT DID THE POLICY ACTIONS HAVE ON THE FED FUNDS RATE? WHAT WERE THE FED'S CONCERNS FOR ECONOMIC GROWTH, HIGH UNEMPLOYMENT, PRICE STABILITY , INTERNATIONAL BALANCE.
How would a decrease in the reserve requirement effect the (a) size of the money multiplier (b) amount of excess reserves in the banking system and (c) extent to which the system could expand the money supply through the creations of checkable dep..
Determine whether each of the following would cause a shift of the aggregate demand curve, a shift of the aggregate supply curve, neither, or both. Which curve shifts, and in which direction What happens to aggregate output and the price level in..
Compute the formula for Bob's indierence curves by setting and compute Bob's MRS as a function of C and P
Two organizations (one Non-profit and one for-profit) are considering different alternative courses of action within their organizations.
The Arena Corporation, which sells engines, has a uniform value of $500, which is charges all its consumers. But, after its competitors begin to cut their rates in the California market to $400, Arena decrease its price to $400.
Choose a United States based company with global operations. Discuss and explain the impact of globalization on the company's cost structure, markets, currency risk, and overall strategy.
Long run average costs rise as output increases if and only if the production function is homogeneous of degree p?(0,1). True or false? Explain your answer.
Using aggregate demand, short run aggregate supply, and long run aggregate supply curves, describe the process through which each government policies will move economy from one long run macroeconomic equilibruium to another.
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