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Following are observations on the market price and the quantity of good X produced and consumed in three different years: $10 and 100 units, $4 and 57 units, and $8 and 88 units. Can we conclude that the market demand for X slopes upward?
Describe supply and demand as it relates to airport market structure(oligopoly). Describe customers options - given the customers are price sensitive
Explain the difference between the demand curve facing the monopoly firm and demand curve facing the perfectly competitive firm.
Some observers say that changes in the past few years have eroded the monopoly power of local cable tv companies, even if no other cable firms have entered their markets. What are these changes? Do these monopoly firms still have monopoly powers
Choose any firm and think about its buying and selling activities -everyone buys and sells, or at least "procures" and "supplies", or otherwise participates in exchange transactions.
Research and evaluate sustainability economic and sustainable agriculture and evaluating a current or proposed government (local, state, national, international) policy and determining whether it is economically sound.
What will be the immediate impact on wages in each of the regions in the short run (before any migration between the North and the South occurs)?
What objectives do unions serve? Are there other, more economically efficient, methods to achieve these objectives? What might those methods be?
A two-year-old child is eating raisins one at a time from a large box. Even though the child doesn't understand formal economic theory, he knows when to stop eating because he is full. Describe how this child has already mastered marginal analysis..
Assume that the demand curve for apples is given by Qd = 140 - 5P, where Qd is number of pounds demanded per year and p is the price per pound. The supply of apples can be described by Qs = 40 + 3P, where Qs is the number of pounds provided.
Derive the profit maximizing price and the profits at this price. What is the demand elasticity at this price? What is the total demand when the monopolist charges a price P?
What key economic concepts underlie the employ of discount coupons by businesses?
The latest economic news was not very positive. Unemployment rates were higher than expected, consumer confidence had fallen, and companies were reporting layoffs were in order. The Federal Reserve chairman acknowledged the economy was in a recess..
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