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Two of the benefits that consumers realize resulting from increased competition are lower prices and improved product quality. Identify a product that has (a) fallen sharply in price, or (b) significantly gotten better without price increases.
Were these desirable product qualities the direct result of increased competition? If no, how did such changes occur? Was the product produced in an industry closely akin to the purely competitive market structure? Incorporate one non-lecture or textbook resource as evidence to support your position.
Please include where you got information.
Now that you are an expert on elasticities, what do you think would be the best time of year to raise prices, and why? What do you think the elasticities are in the flower business? Use graphs and hypothetical tables to support your answer.
Consider the following table displaying annual growth rates for nations X, Y, and Z, each of which entered 2009 with real per capita GDP equal to $20,000: Which nation most likely experienced a sizeable earthquake in late 2009 that destroyed a signif..
Consider our simple model of a system of factory cities. Why is there more than one city? Does anyone in the region produce both shirts and bread? Why? Suppose transportation technology improves. What will happen to the system of cities, holding al..
An asset purchased by Stratasys, Inc. has a first cost of $70,000 with an expected salvage value of $10,000 at the end of its 5-year life. In year 2, the revenue was $490,000 with operating expenses of $140,000. If the company's effective tax rate wa..
What is the market equilibrium cost. What is the equilibrium number of firms in the market.
Which of the following is NOT an example of a managerial decision with risk-averse consumers? The expected revenues in auctions with risk-averse bidders with independent private values will be: A consumer spends more time searching for a good when he..
Illustrate what established the permanent membership number in the House of Representatives.
We sometimes need to find how long it will take a sum of money (or anything else) to grow to some specified amount. For example if a company's sales are growing at a rate of 20% per year, approximately how long will it take sales to triple?
As a whole, nations are better off after trade and specialization because ________.
Which of the following is not one of the ways to evaluate its efforts in social responsibility? Which of the following captures the four domains that facilitate the likelihood that a business will benefit financially from its investments in philanthr..
Robert’s New Way Vacuum Cleaner Company is a newly started small business that produces vacuum cleaners and belongs to a monopolistically competitive market. Its demand curve for the product is expressed as Q = 5000 – 25P where Q is the number of vac..
When monetary policy reduces interest rates,
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