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In a world of perfect information, if consumers could costlessly contract with private contractors to produce a good and there were no economies of scale,
a) firms would be unnecessary.
b) markets would be unnecessary.
c) consumers would be unnecessary.
d) consumers would face greater production costs.
Discuss situations involving binding price ceiling and price floor. You can pick your examples from housing industry, health care industry, or from any other industry. Arrange the following four kinds of market on a continuum where one end will have ..
Indicate two public policies that would be appropriate for addressing this situation. Explain their impact on your graph.
In the UK's National Health Service (NHS) system, the member hospitals are government owned and the doctors working in them are government employees.
Microeconomics and macroeconomics are:
When do assumptions made in conjunction with economic theorizing have to be realistic. Can unrealistic assumptions provide useful outcomes.
suppose you are the owner-operator of a gas station in a small town. over the past 20 years you and your rival have
explain how governments can contribute, or discourage long run growth through their policies and institutions.
Used properly, graphic aids can clarify complex points or emphasize a message. Used improperly or sloppily, they can be distracting or misleading. In preparing for a presentation to the Hi Time Board, the client tells the researcher that the chart do..
You are managing a computer chip manufacturer. Your machinery produces chips normally distributed with an average chip speed of 8 gigahertz (ghz) and a standard deviation of 0.5 ghz. The cost of production is $100 per chip. Chips with speeds from 7 ..
Suppose the city of Washington is committed to raising $250 million for a new arena. The mayor suggests putting a tax on taxi rides since out-of-towners disproportionately use taxis. Evaluate the economics of this policy decision. Carefully explain w..
12. mrs. smith is operating a firm in a competitive market. the market price is 6.50. at her profit-maximizing level of
Identify an issue important to you, briefly state why this issue is important to you then, from the e-activity, succinctly discuss whether or not your elected representative reflects your position. What is their stated position regarding the issue? D..
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