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There is an OPEC cartel that reduces the production of world oil by several million barrels a day. Which of the following correctly captures the effect of this change on the market for gasoline? A. Both equilibrium quantity and price will increase. B. Both equilibrium quantity and price will decrease. C. Equilibrium quantity will increase, but equilibrium price will decrease. D. Equilibrium quantity will decrease, but equilibrium price will increase.
Discuss why marketers might change a positioning strategy over the course of a product/services life-cycle. Use a specific product or service to illustrate your argument.
Suppose that you were an industry analyst trying to determine if the leading firms in the automobile manufacturing industry are playing a tit-for-tat pricing game. What real world data would you want to examine? What would you consider to be evidence..
Drugs, Inc. recently received approval from the Food and Drug Administration for its new supplemental drug application for a 300-milligram tablet of an antiplatelet treatment. The company invested $170 thousand in the research and development fund fo..
Sophie knows nothing about any of this. Can Tasty Foods be convicted of a crime in se circumstances. Can Sophie be held personally liable.
IN what did South have a comparative advantage. Did Civil War change any opportunity costs in South. Did opportunity cost of everything rise. Or did items cost less.
Illustrate what would production at a point outside the production possibilities curve indicate? What must occur before the economy can attain such a level of production.
The shape of the long-run cost curve is determined by economies and diseconomies of scale. Contrast this curve with the short-run cost curve as it relates to increasing and diminishing marginal returns to labor.
In the run up to the 2008 US presidential election, both major contenders, John McCain and Barack Obama, promised that if they were elected they would push for significant new discretionary fiscal policy in 2009. In your initial discussion post, do y..
As the price of gasoline ranges from $3.00 to over $4.00 a gallon in a year, the amount of gasoline bought remains about the same; does this mean that gasoline is an exception to the law of demand or is there some better explanation?
The constant price elasticity of demand for cigarettes has been estimated to be -0.5. To reduce smoking by 50%, approximately how much tax needs to be added to a $1 pack?
More people in high-income countries than in low-income countries tend to believe that rapid rates of economic growth are not desirable. Which of the following best explains what is actually happening to real per capita GDPs of countries?
If it is easy for a firm to get into or exit from a market, then a firm in that market will be able to earn positive economic profits. When economic profit is positive,
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