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180 words minimum for each of the questions and make sure to cover every question
1. What are the differences between economic and accounting concepts of cost? How would you manage the costs associated with a value-creation activity? How do costs of operations relate to the strategy of the organization?
2. How are prices determined under perfect competition? Think about a firm that you have done business with recently. To what industry does this firm belong? For example, McDonald's is a firm in the fast food industry. What market structure would this industry fall under? What are the names of other firms in this industry? Is it monopolistic competition, oligopoly, monopoly, or perfect competition? How does market structure affect the firm's ability to set the price for its products?
The term consumer sovereignty refers to...
You are given the following information. The current dollar-pound exchange rate is $2 per pound. A U.S basket that costs $100 would cost $120 in the United Kingdom. What is the expected U.S minus U.K. inflation differential for the coming year? What ..
A tariff is a tax on imports. Use the model of the excise tax to explain why domestic firms ask their government to "protect" them with a tariff. Consider the winners and losers from the tariff. Why do economists tend to think that tariffs are a bad ..
Compare Perfect competition, monopoly and monopolistic competition. How are these three types of markets similar? How are they different?
The Keynesian model and the AD/AS model are similar in many ways and different in many ways. Show, in a few diagrams, how the slope of the AS curve affects the accuracy of the Keynesian model’s predictions about the results of an increase in autonomo..
Do the following events represent business transactions? Explain your answer in each case.
q.the following outline provides a complete description of all economic activity in trivialand for 2003. compute gdp
The Canadian government administers two programs that affect the market for cigarettes. Health Canada media campaigns and labeling requirements are aimed at making the public aware of the dangers of cigarette smoking. At the same time, Agriculture an..
Fox company has defined a new manufacturing process and is considering options for purchasing material handling equipment from two companies: company X has given a quote od $100,000 for equipment that will last 5 years and will have a $25,000 salvage..
potter corporation sells office supplies to government agencies. the company reports the following selected account
Suppose John has an income of $120 per period and faces prices Px=2 and Pz=3. His goal is to maximize his utility, described by the function U = 10x^0.5 * Z^0.5. Calculate the utility maximizing bundle (X*,Z*) using the Langrangian method. Derive the..
What is the difference between a change in supply and a change in quantity supplied?
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