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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
Discuss any recent purchases you have made and for which you feel that a similar rational seemed to be at work.
Assuming no population growth or technological progress, find the steady state capital stock per worker , output per worker, and consumption per worker as a function of the savings rate and the depreciation rate.
Is there efficiency in production?
The model of the economy
When economists are sketching examples of supply and demand, it is common to sketch a demand or supply curve that is close to vertical, and then to refer to that curve as _________.
Recently, a bank was trying to decide what fee to charge for "expedited payments" - payments that the bank would transmit extra-speedily to enable customers to avoid late fees on cable TV bills, electric bills, and the like.
Normal 0 false false false EN-US X-NONE X-NONE If a country exports agricu..
A company consists of two kinds of employees, tall and short. Each person can work in either of two jobs, honest work or stealing from the company. The wage to honest work for a short person is wS, while the wage for a tall person is wT.
What monetary policies do you think caused the crisis and what were the effects of the policies implemented in reaction to the crisis
explain why the facility layout and the work system design is important? how does it impact the business and workforce?
in the 1990s five firms supplied amateur color film in the united states kodak fuji konica agfa and 3m. from a
A town in Wyoming wants to drill geothermal well to provide a district heating steam and hot water for its businesses and residences.
Does Budweiser have a dominant strategy and what is the equilibrium for this advertising strategy game? That is, in which cell will the firms end up?
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