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Describe the short-run impact that economic fluctuations and growth (or lack thereof) have had on aggregate supply, aggregate demand, output, unemployment, and inflation.
Prove utilizing a graph, that a diagonal line through the original would intersect each indifference curve once.
The graph below shows the demand and supply curves of the market for gasoline as well as the wedge that the tax creates. Explain how much is the total tax revenue.
The subsequent tables Explain how the trade-offs you face in allocating the time you will spend in studying each subject.
Illustrate which competitor is better positioned to take advantage of this opportunity. Assuming that neither company can segment the market.
Discuss Explain how "Game Theory" can be used to improve strategic decision making in competitive situations.
State the rule for optimum input allocation to produce a given level of output at the lowest possible cost -when two inputs are variable and the prices of the inputs are given- and explain why it makes sense.
Supposes a perfectly competitive, increasing-cost industry is initially in long-run equilibrium and demand suddenly increases. Explain how demand change affects price and quantity and who benefits from increased demand.
If the taxes are set so that each resident shares the cost evenly (a=b=c), how so many paths will get built.
An alternative way for the government to encourage home ownership would be to offer a tax credit instead of a tax deduction. Explain how does this alter its budget if k=0.25.
In 2002, a well known conglomerate that produces a multitude of noncompeting customer products instituted a corporate wide initiative to encourage the managers of its many divisions to share consumer demographic info.
Discuss the following situation (a) from the strictly legal viewpoint, (b) from a moral and ethical viewpoint, and (c) from the point of view of what is best in the long run for the company. Be sure to consider both short- and long-range consequences..
Suppose that Jenny is the only consumer in the antique car market. Her willingness to pay for an antique car is $200,000. Based on Jenny's willingness to pay, plot demand schedule in the graph below utilizing the blue points.
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