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Grocery stores and gas stations in large cities would appear to be examples of near-perfectly competitive markets because there are numerous small sellers, each seller is a price taker, and the products are quite similar. Do you agree with this statement? Could you make an argument that these markets are not competitive?
Elucidate how these economic concepts can be used to address the firm's problems and opportunities.
Suppose the following information for a country: total population, 500; population under 16 years of age are institutionalized, 120; not in labor force, 150; unemployed, 23, part-time workers looking for full time jobs.
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..
A no of empirical studies of automobile demand yielded the subsiquent estimates of income and price elasticities
Farm Fresh Corporation supplies sweet peas to canneries located throughout the Mississippi river Valley Like many grain and commodity markets, market for sweet peas is perfectly competitive.
BMW has MC=$20,000 and FC=$10billion. Demand for markets in Europe and US are Qe=4,000,000-100Pe and Qu=1,000,000-20Pu. Prices and Costs are given in thousands.
What are at least three ways in which you would get help in this marketing campaign.
What is business cycle? Describe the four phases of the business cycle. Where on the business cycle do you think the U.S. economy is today?
Explain the government uses policies like student loans and free trade to influence the economy's growth rate.
Suppose the following cost functions of a perfectly competitive company? Compute the firms profit or loss, should firm shut down if loss?
Determine the economy current stage in the business cycle and support your answer with an article written within the last week from popular press or blog.
Calculating elasticity: Draw a set of coordinate axes on a piece of graph paper. Label horizontal axixs from 0-50 units and vertical axis from $0- $20 per unit. Draw a demand curve that intersects the vertical axis at $10 and the horizontal axis a..
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