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Question - Draw a circular-flow diagram. Identify the parts of the model that correspond to the flow of goods and services and the flow of dollars for each of the following activities.
i. Paul purchases a pair of shoes for $30.
ii. Shannon receives a salary of $1,500 per week at the supermarket which she works.
iii. Honda Limited receives $20,000 for the sale of a sports utility vehicle.
iv. Mark earns $2,000 from his 15 percent ownership of Apple stock.
Consider the market structure of the electronic business in Bangladesh, what type of market structure can this be characterized as?
Why might a local resident be willing to pay more for an apartment complex in your hometown than might an investor from out-of-the-country who would use it for exactly the same purpose – housing tenants?
Choose a perfectly competitive supplier or industry. Briefly describe the operations of this firm or the firms within the industry.
Discuss a firm's objective relative to its economic cost. Describe each of the firm's economic cost, and whether these would be considered explicit or implicit. What is the difference between an economic profit and an accounting profit.
Suppose you were instructed to construct a BP curve of one state in the United States with another, such as New York's BP curve with Illinois.
What is Meagen's opportunity cost for producing 1 pie and 1 loaf of bread? b. What is Jim's opportunity cost for producing 1 pie and 1 loaf of bread? c. Who has the comparative advantage in the production of each good?
How much of each good does each consumer demand in equilibrium and what is the marginal rate of substitution for consumer A at the competitive equilibrium?
Submit this assignment by uploading your answers as a WORD document that uses the requested file naming convention.
The marginal revenue product function of labor represents the
What is the "current macroeconomic situation" in the U.S. (e.g. is the U.S. economy currently concerned about unemployment, inflation, recession, etc.)? What fiscal policies and monetary policies would be appropriate at this time
Dominos Case Study in Case Study section of the text - Discuss reasons why Domino's would use an acquisition strategy to achieve strategic competitiveness.
Confirm that the inverse-elasticity pricing rule holds for the profit-maximizing price you calculated in the previous problem. (Hint: use the point elasticity formula: ε = (ΔQ/ΔP)(P/Q) to calculate own-price elasticity of demand.)
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