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How does the existence of money decrease the expenses of making transactions, relative to a society based entirely on barter? English is becoming the usual language for international transactions, even if the language of neither country is English. How does this reduce the cost of transacting?
There are two goods in the economy, anchovies (a fish) and bananas (a farm product). Draw the economy's production possibilities before and after natural disaster that lowers the banana harvest but does not affect anchovies.
Provide some example of a goods that you purchase or market at your workplace to demonstrate why demand curve slopes downwards and why supply curve slopes upwards?
Describe why a change in a firm's total fixed cost of production will shift its average total cost curve, but not its marginal cost curve.
Assume the following was overheard at the water cooler: "I think our medical device company should take advantage of economies of scale by increasing our output, thereby spreading out our overhead costs."
Consider the firms short run decision to hire workers. Suppose that a firm produces goods for sale in the perfectly competitive market. labor markets are competitive as well.
Please explain why international strategy is important. What is the difference between domestic and international strategic planning?
Intelligent fiscal policy and appropriate monetary policy permit for a stabilizing influence on US economy. The government is able to make action through expansionary or contractionary fiscal policy to manage recession and inflation when necessary.
Please refer to Citizen Gas Company PDF for case study and questions. The case study belongs to Economics. Citizen Gas Company is a medium sized company with customers from residential, commercial and industrial sectors.
What is opportunity cost and describe with the help of an example, why assumption of constant opportunity cost is very unrealistic and also calculate point elasticity of demand
Discuss and explain wage determination in a labor market in which workers are unorganized and many companies actively compete for the services of labor.
Suppose M = $80,000, PR = $30, T = 5, PE = $12, and N = 6,000. Using these, compute and write the direct demand function for Good A. Show your math. Watch the decimals! The coefficient on M is 0.02 and the coefficient on N is .4
Which market structure is best suited for the pharmaceutical industry (perfect competition, monopolistic competition, monopoly and oligopoly)
A price floor is set by the government to protect the producer of the good to which price floor has been attached. There're two possible outcomes for market in price floor setting.
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