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1. Tickets to a rock concert sell for $10. But at that price, the demand is substantially greater than the available number of tickets. Is the value or marginal benefit of an additional ticket greater than, less than, or equal to $10? How might you determine that value?
2. Which of the following combinations of goods are complements and which are substitutes? Can they be either in different circumstances? Discuss.
a. a mathematics class and an economics class
b. tennis balls and a tennis racket
c. steak and lobster
d. a plane trip and a train trip to the same destination e. bacon and eggs
Sixteen states sue the major tobacco companies for billions of dollars because of tobacco-related costs in their Medicaid programs. Medical evidence that more than two cups of coffee a day (Considered by many to be a substitute for smoking) greatl..
The market demand function of a company is given by 8P + Q - 64 = 0, and the company's average cost function takes the form AC = 8/Q + 6 - 0.4Q + 0.08Q2.
Ellen wants to start a business. She is leaning toward setting up her company as a sole proprietorship, but she is also looking at other possibilities. Ellen has two major goals. First, given her limited personal wealth and eagerness to get starte..
While sitting in your office one evening, you start to think about some of the key microeconomic messages you wish to communicate to the Board.
Describe the issues, challenges, or disadvantages to forming the strategic alliance (focus on supply chain). Provide an example that is not included in attached reference.
How does a fair-trade product differ from an otherwise identical imported good What is the purported benefit of fair-trade certification on purchases of goods such as chocolate, coffee, bananas, and tea? Do fairtrade goods improve average wages or..
If the lending process continues as far as it can possibly go, how many deposit dollars will be created from this initial $1000 deposit?
Identify specific examples of prominent computer hardware and software technological advances in the industry. Discuss two of the following points and apply that to your example. • What is the effect of new technology on firms in the industry in th..
Question about micro economics- Sam Smith owns an internet radio company that has subscribers in Houston and Dallas
Marsha assigned you to head up a team to get U-Build-It into e-business within two years. With her advice and approval, you decided that U-Build-It's e-business effort would not replace the existing stores, but rather would supplement them.
Describe how each of following will affect consumption and saving schedules as they relate to GDP or the investment schedule, other things equal,
Analyze the past, current, and future cost considerations of the company and, on the basis of your costs analysis, create a list of strategies to enhance the company's profit. In your analysis, include the following information about the various c..
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