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This a discussion page just need a simple reply to questions no kind of format!!
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Topic: Tailored Clothes
1. Assume that you were ready to buy a custom tailored dress (or men's suit) and you are prepared to pay up to $200 for it. Also assume that the tailor is prepared to sell that item of clothing for as little as $100. When you arrive at the tailor shop, the posted price for the item is $150. Discuss how this scenario relates to producer and consumer surplus and how such surpluses, if any, affect buying and manufacturing decisions.
2. Discuss any recent purchases you have made and for which you feel that a similar rationale seemed to be at work.
What is performance technology and briefly describe the business logics model
Explain briefly crime rate declines would cause GDP to overstate or understate the degree of change in the broad standard of living. a. The
Kidney's are not allocated by markets. Discuss the pros and cons of switching to a market for kidneys. Currently, people can volunteer to donate one of their two kidneys,
What substitute products are relevant to your analysis? What, if any, substitutes have come into or gone out of, the relevant market? When? Explain the impact. Be specific.
The personal liability portion of a homeowner's insurance policy protects the insured against financial loss when his or her.
ABC Company uses job-order costing. It incurred the following costs for job M301: 20 pounds of raw materials (all direct) were issued to be used for job M301 at a cost of $7 per pound
For a firm in a perfectly competitive market that faces a market price of $5/unit for its output, draw a diagram showing a U-shaped long run Average Cost curve and the related Marginal Cost curve so that, in the situation you show
If you could please explain and solve these it would be appreciated:Q1: draw a supply and demand graph where the demand curve is more inelastic than the supply curve. Who would pay (carry the majority of the tax incidence) the majority of any tax cr..
When the Fed buys government securities in the open market, the money supply ________ because ________. In the quantity theory of money, the assumption that aggregate output is fixed is based on the view that ________.M1 differs from M2 because _____..
How much output should the firm produce in the short-run, what price should the firm charge in the short-run - what are the firm's short-run profits?
bad breath inc sells its output at 1 per unit into competitive markets. bad breaths factory is the only employer or
Interested in looking at the relationship between the number of people on the sales force and the dollar volume of sales.The following data
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