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1. Consider two countries—A and B. Country A is characterized by a command economy, absence of property rights, high entry barriers for new businesses, and forced child labor. Country B, on the other hand, is characterized by well-defined private property rights, a developed market system, and no entry barriers for new businesses.
a) Which of the two countries is likely to oppose creative destruction more? b) Why?
2. Consider two countries: A and B. Assume that both countries are exactly similar to the year 2000. At the beginning of the year 2000, both countries decide to change their strategy for economic growth. Country A plans to encourage immigration and increase human capital in the economy to achieve sustained growth, while Country B decides to make significant investments in research and development to achieve sustained growth.
A) Which of the two countries is more likely to experience continued growth and why?
Tamiflu, produced by Roche, has so far been the most effective medicine to tackle bird flu. Roche was granted a patent on the drug which enables the pharmaceutical firm to charge higher prices and earn higher profits. Monopoly is inefficient as it ch..
Consider an industry that consists of two firms, A and B. They face a demand curve q = qA + qB = 14 - p, where p is the industry price of output. Both firms have constant average and marginal cost of $2. Suppose they form a cartel and choose the pric..
Suppose the civilian non-institutional population equals 250,000; there are 132,500 employed persons and 10,000 unemployed persons. How many people are not in the labor force?
Why would an entrepreneur choose C corporation status instead of one of the flow-through entity types? Include characteristics of formation, business activity, and distributions in your response. Discuss non-tax reasons as well as tax reasons.
The government proposes cutting taxes on investment by implementing a credit for investment in information technology equipment. The proposal would reduce government tax revenues. Describe the likely impact on the bond market .
Estimate the following statement;"Managers should specialize by acquiring only the tools needed to operate in a particular market structure.
Consider a monopolist with demand curve P= 100-Q/2 . The total cost of production is 10Q + 1500 for positive ouput and 500 if it shuts down production. Illustrate what is the maximum profit the monopolist can earn (assuming no possibility of price..
Name 5 stylized facts about the business cycle.2. Rank order these three ideas from "most optimistic about how a temporary tax raises consumer spending" to "least optimistic" about the same, and explain.
Describe what is meant by a dominant strategy. Given payoff matrix above, does each firm have a dominant strategy. Under what circumstances would re be no dominant strategy for one or both firms.
What is price in business? New products can come through product refinement and a product extension. Explain each.(What is product refinement and a product extension)
Last year real GDP in the imaginary nation of Oceania was 561.0 billion and the population was 2.2 million. The year before, real GDP was 500.0 billion and the population was 2.0 million. What was the growth rate of real GDP per person during the yea..
Which of the following statements is true about the middle management in the context of levels of management? A(n) _____ manager is responsible for planning, pricing, and promoting products and making them available to customers through distribution...
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