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A company is trying to provide goods and services to customers in a balanced customer benefit package CPB. Do you see any conflicts in a goods-producing versus service-providing way of thinking? Illustrate with examples.
What is opportunity cost of producing a car in Canada? What is the opportunity cost of producing the tonne of wheat in Canada? Describe the relationship between the opportunity costs of two goods.
Consider the following two good pure exchange economy: Alfred's utility function is U A (x, y) = min{x, y} and Bob's utility function is U B (x, y) = max{x, y}.
Ceteris paribus, Diet Cola Brand X and Diet Cola Brand Y are substitutes in consumption. The price of Diet Cola Brand Y falls. a. What happens to the demand for Diet Cola Brand X? b. What happens to the demand for Diet Cola Brand Y?
Caviar and champagne are complements. Recently, pollution has been a problem in the Volga River, where much of the world's caviar originates. The sturgeon that live in these waters are laying fewer eggs than before. Show graphically and explain..
Use the following information for a perfectly competitive firm and the profit-maximizing input-combination rule to identify how many workers firm will employ to maximize profits.
Describe what would happen in this market in terms of the supply and demand curve and draw a graph illustrating the supply and demand in this market.
Illustrate what percentage of the CEO's total earnings is tied to profits of the firm.
Explain how would this affect the elasticity of demand for gasoline
Globalization and global trade have led to increased competition in world markets and increased allocation of scarce resources. Is it accurate to say that this is contributing to increased consumer surplus and reductions in inflationary pressures?
Sometimes market activities (production, buying, and selling) have unintended positive or negative effects outside the market's scope. These are called externalities. As a policy maker concerned with correcting the effects of gases.
An investment alternative will yield an income of $12,500 now (t=0) and $8,000 three years from now. What is the accumulated amount at the end of 8 years if the interest rate is 9% per year compounded semi-annually?
Assume we refused to sell goods to any country that reduced or halted its exports to us.
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