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Describe what is meant by a normal good. Provide a real-life example in your own words. What is an inferior good? How does a change in income impact the demand for inferior goods? What is meant by the law of demand? Provide a relevant example.
Discuss the difference between a unilateral and bilateral contract. Why is it important to be able to identify which type it is? Give an example of each.
Miguel owns a sweater store. He notices that when the prices of a sweater decrease by 5%, the quantity demanded increases by 7%.
What is his probability of succeeding? Enter answer in percents, accurate to two decimal places.
Zoltan Novak, and Paul smith both residents of the country of EAST Paragon are discussing whether the economy is operating at full employment. Zoltan, a market analyst argues that with unemployment at 5.3%, the economy cannot possibly be fully utiliz..
Each truck cost $18,000 and has an expected life of 4 years. The trucks can each be sold for $2000 after 4 years. Using MACRS:
Firm incurs two types of costs of production: fixed costs and variable costs. Can you name an industry where the fixed costs are relatively high compared to the variable costs? Can you name another where the variable costs are relatively high compare..
A committee of 4 persons is to be formed from 7 men and 4 women. What is the probability that the committee consists of exactly 2 women?
To one side maximizing profits evaluate the factors which managers must consider when making judgment to outsource or integrate forwards/backwards considering which factor would be mainly significant for decision-making.
Assume the frequent flyer program has raised the cost of high-yield spill two fold since trade clients who are denied boarding now take their trade
Which of the following is not an accurate description of what can cause inflation?
Give at least one example of a country with a high growth economy and a country with a low growth economy. Explain how the politics in each country affects the economy.
Assuming that a consumers preferences are rational and well-behaved, explain why indierence curves can't cross.
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