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Question: Omega Travel competes in the highly competitive market for travel. Consumers know that Omega has the best agents in the industry and offers superior service. Nonetheless, Omega earns zero economic profits because numerous competitors have entered the market over the last few years. Based on this information, does Omega operate in a perfectly competitive market? Why or why not?
apple inc. has made a rare fashion miscalculation they have produced 8000 neon green ipods but have sold almost none.
LG Electronics plans to invest 30 trillion won by 2010 to make this happen, hoping that the cost savings and reduction in risks associated with vertical integration justify the investment.
You can use monetary and fiscal policies to affect aggregate demand but you cannot affect aggregate supply in the short run. How would you respond to the following scenarios?1. A surprise increase in investment spending 2. Catastrophic floods that ..
The Indian Mineral Leasing Act
5.1 Know about and analyze the "great migration" of African-Americans from the south to the north to obtain better employment prospects in the 20th Century; 5.2 Appreciate and know how to analyze the role of immigration and the immigrant experience ..
the only goods you buy are apples and oranges. both apples and oranges sell for 1 per piece and your income is 10 a
A friend of your is considering two cell phone service providers. Provider A charges $120 per month for the service regadless of phone calls made. Provider B does not have a fixed service fee but instead charges $1 per minute for calls.
Can ticket "scalping" be justified? Explain using economic analysis. What are the economic effects of an appreciation of the dollar in foreign exchange markets
Describe "modern economic growth" and describe the institutional structures needed for an economy to experience it. Identify the general demand, supply, and efficiency forces that give rise to economic growth.
Suppose P (domestic price) and P* (foreign price) are both increasing. Now suppose that the dollar experiences a 5% nominal depreciation. a. Which country is experiencing the higher rate of inflation if the domestic currency experiences
The new gold rush is not just in the United States. It is also in Australia, Africa, Asia, and elsewhere. If old gold mines still have gold in them, why weren't they being operated before the increase in the price of gold?
How government intervention in the form of a tax on producers can make the post-policy outcomes even worse than the pre-policy position and explain the underlying economic logic of this proposition.
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