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A father goes to the pharmacy late at night for cold medicine for his sick child. all medicine have almost the exact ingredients brand names sell for more. Explain, in economic terms this situation to the father.
Assume you receive a 4% increase in your nominal wage. Over the year, inflation runs about 7 percent. Which of the following statements is TRUE?
the blair company's three assembly plants are located in california, georgia, and new jersey. previously, the company purchased a major subassembly, which becomes part of the final product, from an outside firm. blair has decided to manufacture th..
Efficiency and sustainability are management goals with respect to renewable resources. As Field explains, biological and economic considerations are typically blended in determining the efficient allocation of these resources.
You are the manager of College Computers, a manufacturer of customized computers that meet the specifications required by the local university.
Illustrate what assumptions is the theory based, and how plausible are these assumptions.
the number of the world-wide wireless phone subscribers will soon reach the 1 billion mark. In the U.S. alone, the number of wireless subscribers is projected to grow by almost 17 million subscribers per year for the next five years.
According to a recent article in the Wall Street Journal, side-impact crashes are among the deadliest, accounting for nearly 10,000 deaths per year.
Price can be substituted for marginal revenue in the MR = MC rule when an industry is purely competitive because price minus cost equals marginal revenue. and marginal cost are the same in pure competition. is the same as average revenue.
The table below shows the marginal utility a costumer would get by purchasing various quantities-What combination of the three products should be purchased in order to maximize utility?
The Yankees have determined that there are 3-groups of purchaser for their tickets. They have determined that the price elasticity of demand for group one is -1.02,
Assume an economy's real GDP is $30,000 in year 1 and $31,200 in year 2. Illustrtae what is the growth rate of its real GDP.
Assume that a company maximizes its total profits and has a marginal cost. Find the price at which the firm sells the product.
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