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Describe how a bandwagon effect might speed up the rate at which DVD players are adopted by customers. Do likewise for the case of cable television subscriptions.
Discuss the meaning of the regression coefficient of the independent variable(s) and how it could be used to estimate the elasticities of each of these variables. Discuss how managers use the elasticities measurements to make managerial decisions.
Explain the process or mechanism underlying how a market-based economic system allocates scares resources. Identify how this process might differ from a centrally planned or command economy.
what is average productivity? what is marginal productivity? explain the relationship between marginal and average
which will cause a larger short run increase in prices; an anticipated or unanticipated increase in aggregate demand? will they cause the same increase in prices in the long run?
Total cost and total variable cost are parallel, yet average total cost and average variable cost are not parallel. Demonstrate mathematically that ATC and AVC are not parallel.
Which outcomes are Pareto efficient?
Why is there a social cost to monopsony power? If the gains to buyers from monopsony power could be redistributed to sellers, would the social cost of monopsony power be eliminated? Explain briefly.
what events toward the end of the 19th century enabled general interest magazines to become mass circulation magazines?
In 2008 the Fed initiated a program called QE or quantitative easing to try and stimulate the economy. Using a fully labeled aggregate demand and supply graph, show what the objective of this program was. Explain what the new equilibrium point mea..
Carl is deciding whether or not to make a farm. If he makes a farm, he will earn a $50,000 grant from the government. For every 100 head of cattle that he increase and sells.
a simple model of monitoring. a company consists of two kinds of employees tall and short. each person can work in
Discuss if you agree or disagree with this statement and explain your position: Market equilibrium (price and quantity of equilibrium) is just a theoretical result.
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