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Please help me answer these 3 questions thoroughly.
1. Define perfect competition. Explain how this theory has or does not have (in your opinion) relevance in economic theory.
2. Briefly explain how Robinson and Marx defined labor exploitation.
3. Briefly explain how Robinson and Marx defined labor exploitation.
If the demand for product Z is perfectly inelastic, then the corresponding price-consumption curve will be
The radio manufacturing industry has been in decline for quite some time. Suppose the government is called on to save this industry with infusions of cash, low interest loans, or other special breaks. This might be touted as helping firms remain open..
Discuss the prices and quantities expected (high, highest, lowest, most fewest, etc.) when a market is addressed by the following industrial structures:
A) Why has Uber cut prices substantially? ($500) B) What assumptions has Uber made about price elasticity of demand among its customers? ($500) C) If customer demand is price inelastic, will total revenue rise or fall? Explain your answer in 1-2 sent..
Which type of research design is appropriate
Explain why does a newspaper dispenser open to a stack of newspaper and essentially "trusts" a consumer to take just one copy.
Why is the use of the permits more efficient than the regulation requiring each firm to reduce pollution by one unit?
Is there a relationship between GDP and the business cycle. If so, explicitate relationship exists and how might a business manager use this information to increase their profits.
Jane obtains utility W1/2 from wealth W. Jane has $100, but there is a 25% chance she will require surgery which costs $64. calculate the expected value of Jane's wealth. calculate Jane's expected utility. what is Jane's certainty equivalent?
Americans pay $30 billion a year I health care costs associated with smoking? How would those expenditures affect GDP? Why business managers should know economics? Explain giving reasons? Does foreign direct investment help to poor countries?
Ajax Electric Light is a nonunion manufacturing company that produces small light components including a type often used in automobiles. Discuss the difficulty of making a fully "rational" decision in the face of incomplete information, unclear crite..
The fixed cost of running a private practice is $36,000 per year. The variable cost of providing consultation services from this private practice increase by $30 per consultation for any level of production up to 3000 units. The average and marginal ..
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