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Assignment:
Choose an article published in the last two weeks in one of these three resources (Wall Street Journal, Business Week, Economist). Discuss how the article relates to one or more of the Ten Basic Principles of Economics:
The maintenance foreman of a plant in reviewing his records found that maintenance costs on a large press had increased with sales of a product that will decline in the future.
questionconsider a firm which produces a good y using two inputs or factors of production x1 and x2.thefirms production
What is achieved by selecting the quantity of an activity at which marginal benefit equals marginal cost
Assume that the government imposes a $20 minimum wage. Find the new quantity of labor demanded and supplied.
1) Does an expectation of a stronger exchange rate in the future affect the exchange rate in the present? If so, how?
What empirical method(s) do you propose and why? What is your model specification? What functional form of data do you use and why?
how can the marketing manager know whether demand for a product is elastic or inelastic?
Assume that fixed costs remain at $250. When the price of a variable input changes which other costs will increase? Compare the costs you calculate for table two to the costs calculated in table one to find your answers.
Draw the graph of demand and marginal private cost curves for the factory - Find the equilibrium price and quantity.
Suppose that the government sets a price floor for milk that is above the competitive equilibrium price. a) draw a graph showing this situation. Be sure your graph shows the competitive equilibrium price, the price floor, the quantity that would be s..
Prepare a memo to NMC upper management that outlines weaknesses in their current cost allocation process and ways to improve it that will assist them in evaluating the performance of the Classic and New Wave divisions.
If the firms compete on the basis of (continuous) price, which duopoly model explains what happens? What kind of a game is this? If the firms compete a fixed number of times, what is the Nash Equilibrium? Why does this happen?
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