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If the supply of turkeys in a particular November turned out to be unusually small, do you think a turkey shortage would result? that is, would shoppers be unable to purchase a turkey for thanks giving meal? why or why not?
Select any research idea that you are interested. Write down a research question. For example, I am interested in the Salary of baseball players. My research question is "Does age determines wages of baseball players?"
1. Less-developed nations sometimes argue that the industrialized nations' tariff structures discourage the less-developed nations from undergoing industrialization. How? Distinguish between consumer surplus and producer surplus. How do these concept..
Around 2000, the dotcom bubble in the stock market burst and the US entered a recession. What would the neo-classical policy prescription have been for the US government and the Federal Reserve to do about this recession? How would this have operated..
In the chapter "Short-Term Decision Making," you are exposed to several cost concepts. Write a brief summary (3–5 paragraphs) of how these cost concepts relate to short- and long-term decision making for a company. Include an explanation of the diffe..
Calculating MPC, In one year, a consumer's income increase by $400 and her consumption increases by $120. Her marginal propensity to consume is equal to.
Coming amid continued turmoil in the financial and credit markets, the report sent stocks lower, with the Dow Jones Industrial Average falling 146.70 points Friday to close at 11,893.69.
A city is spending $20 million on a new sewage system. The expected life of the system is 40 years, and it will have no market value at the end of it life. Operating and maintenance expenses for the system are projected to average $0.6 million per ye..
The sales manager for ABC Electronics wants to maximize his profit on the sale of two portable media player models, JVD-2000 and MDP-72. The wholesale costs of these models are $310 and $100 per unit respectively. The retail sales prices are $420 and..
Suppose that the annual growth in real income in Japan is expected to be between 2 and 3 percent and that income elasticity of demand for housing in Tokyo is estimated to be between 0.8 and 1.0 for rental units and between 0.7 and 1.5 for owner-occup..
A major defence supplier expects to generate additional revenue from its recently won government contract. The company expects the revenue will be $110 million in the first year and the revenue increasing by $2.5 million each year for the next 4 year..
Suppose that your utility function is given by (I) = ??n(4??) , where ??n(??) stands for the natural logarithm of x, and I is the amount of income you make in a given year. What is your expected utility if you do not have insurance to protect against..
The inverse demand curve for widgets is P = 130−2Q. There are two firms, A and B, who produce widgets. Each firm has a constant marginal and average cost of producing the good that equals 10. What is the Cournot-Nash equilibrium? You need to solve th..
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