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Say the ice market is perfectly competitive. Show using the supply and demand model that a rise in the price of ice could help a ice producer/supplier earn positive economic profits in the short run. Also use the supply and demand model to show that in the long run, the individual face mask producer/supplier can only earn zero economical profits.
As a result, network traffic that is destined for local or regional services does not need to traverse to a central point for distribution. Common services can be duplicated in different regions, thereby keeping traffic off the higher level backbo..
Jill plants flowers in her yard to supply a local florist. Her neighbor enjoys the flowers. Therefore: Question 3 options: Jill should stop planting flowers because her neighbor does not pay for the benefit he gets. Jill should not plant flowers beca..
Some states are required to balance their budgets at all times. When a recession starts, is this requirement stabilizing or destabilizing? Explain your answer
In what way does the official Bureau of Labor Statistics measure of unemployment understate the degree of unemployment in the economy?
What was the result of the merger and merged firm on the petroleum industry? Did the price of gas go up or down? What role did the Federal Trade Commission (FTC) and Department of Justice (DoJ) play in this merger? What did the FTC and DoJ require to..
A new government (the Atreides) takes over and wants to encourage the efficient quantity of water to be sold. Describe at least three options for the new government to deal with the inefficiency created by this monopoly. Discuss the benefits and draw..
As the manager of a monopoly, you face potential government regulation. Your inverse demand is P = 45 - 1Q, and your costs are C(Q) = 17Q. Determine the monopoly price and output. Monopoly price: What is the maximum amount your firm should be willing..
Show each of the following events on a bank’s T-account:
As consumers we loke competition because it lowers prices and increases supply. Many products and services we use started out with limited choices and high prices. What is an example you can think of where more competition has brought you more choice..
The government has decided that the free-market price of sugar is too low, and therefore to help the sugar industry, a binding price floor is imposed. use a supply and demand diagram to show the effect of this policy on the price and quantity sold of..
In the Romer endogenous growth model, what three factors determine an economy’s growth rate? Briefly explain (and ideally show in an impulse-response diagram) how a change in each factor affects growth.
Name at least three major risk-control techniques that Mikas can apply for reducing the frequency or severity of losses due to potential product defects
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