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The New York Times (Nov. 30, 1993) reported that "the inability of OPEC to agree last week to cut production has sent the oil market into turmoil[leading to] the lowest price for domestic crude oil since June 1990."a. Why were the members of OPEC trying to agree to cut production?b. Why do you suppose OPEC was unable to agree on cutting production? Why did the oil market go into "turmoil" as a result?c. The newspaper also noted OPEC's view "that producing nations outside the organization, like Norway and Britain, should do their share and cut production." What does the phrase "do their share" suggest about OPEC's desired relationship with Norway and Britain?
Should the controller's argument be accepted if she does not really know much about copier technology. What would it make a difference if the controller were knowledgeable about the pace of change in copier technology.
A monopolist sells in both Milwaukee also Cleveland and has identical marginal price of 8 in each market.
Determine what impact will an unanticipated rasie in the money supply have on the real interest price, real output, and employment in the short run?
Elucidate how these economic concepts can be used to address the firm's problems and opportunities.
Illustratr what can you infer regarding the own price elasticity of demand for Big G cereal.
Are there any examples which you can think of where you, personally, would not experience diminishing marginal utility.
Provide a business or political example of the prisoner's dilemma from the field of game theory. What is the payoff for each participant in your example.
You are cultivating a strain of E. coli for research and inoculate a flask of rich media with 50 cells. Assuming an exponential growth rate of 2.5 cells/hour and that you need 1,000,000 cells for your analysis, how long will you need to culture t..
Illustrate what affect might our concern for the baby boomers reaching retirement age, and the smallest number.
Your company is considering an investment project that will generate after-tax cash flows of $1,000 per year for the next three years (and then be scrapped, with no salvage value).
If an investor implemented a reverse cash also carry trade, what would the arbitrage profit be.
Alexander studies away from home. While at school, he spends all his income on air travel and economics textbooks. In a diagram with air-travel as the x-axis good, as pair increases while ptext remains unchanged, Alexander's price consumption path..
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