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Assignment:
Find a profile of an unconventional leader (not President Obama, Oprah Winfrey or Bill Gates) from a magazine, newspaper, or online source and write an essay answering the following questions:
Choose two different Australian industries that represent monopoly and monopolistic competition. What characteristics of these industries and their products can be used to explain the differences between the two market structures? Using real data ..
Zero economic profit includes a normal return for business owner. However, how do we know that the business owner will be satisfied with zero economic profit? In other words, if a business owner is earning zero economic profit, is there another oppor..
A firm in a perfectly competitive market, in the short run, faces a price of £20 per unit of its output. It employs 40 workers and produces 200 units per week.
In 300 words or more, discuss one current event article and explain how economic theory can be applied to analyze the information presented.
Consider an exchange economy with two goods (x and y) and two agents (a and b). Agent a has preferences represented by ua(xa, ya) = xaya and endowment
Describe and explain why a socialist system might be the best in responding to the needs of people struck by an emergency situation like the earthquake that occurred in Haiti in January 2010.
Now suppose that you face two other bidders and believe that a typical competitor's value for the building lies between $2 million and $3.5 million, with all values in between equally likely. (Again, your value is $2.9 million.) Assuming your two ..
Several decades in the physician services market- the level of competition has increased and economies of scale have increased.
The problem belongs to Economics, particularly to Micro-economics and it is discuss about a scenario where a manager of a firm has to find costs of different levels of output with the given data of total cost and fixed cost.
Most of the argument of Guns, Germs, and Steel is devoted to proving the primacy throughout history of mid-latitude Eurasia, and within this region of Europe.
HoneyBee Farms, a medium size manufacturer of honey, operates in market that fits competitive market definition relatively well.
If you have a private-ownership right to something, what does this mean? Does private ownership give you the right to do anything you want with the things that you own? Explain. How does private ownership influence the incentive of individuals to
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