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The average consumer thinks that price gouging is unfair. Some even think it should be illegal. But most economists think it is an efficient response to the market. What do you think? Should price gouging be illegal? Is it fair?
Using the following information, determine the depreciation schedule for the assembly line.
Explain how much is saved at equilibrium. If savings fell by $200 at every level of GDP, illustrate what would be equilibrium level of income.
Name a firm and discuss how the firm tries to obtain competitive advantage. Does it try to obtain a competitive advantage through cost advantage or benefit.
Suppose that firm 1 and firm 2 operate under conditions of constant average and marginal cost but that firm 1’s marginal cost is c1 = 10 and firm 2’s marginal cost c2 = 8. Market demand is Q = 500 − 20P. Supposee two firms practice Cournot competitio..
Oligopolistic firms: The line which forms a 45-degree angle in the Keynesian cross model is
Consider the global market for crude oil Suppose there exists a single crude oil producer. This producer has a supply function for crude oil given by: If the crude oil producer acts as price-taking firm, what is the change in consumer surplus as a re..
Assume the economy has a GDP of $11,500 billion. The unemployment rate is at 7.3% and has been slowly rising for the last 6 months. Inflation was at 2.3% one year ago but has since dropped to near 0%. The MPC in the economy is .75 and the natural rat..
Why is it that when you have a trade deficit saving is less than investment. S-I=NX. A trade deficit just means you bought more products from foreign sellers than you sold to them. So is a trade deficit even a bad thing? And what does it have to do w..
What is ethics? How does the concept of ethics change in an international environment? What impact does diversity have on the development and implematation of an organizational ethics program?
Give an example of a healthcare product that is financed by the government but produced by private firms? Can you explain why this arrangement exists?
You are the manager of the surgery department at a hospital which serves mostly Medicare patients. The hospital performs 1,000 surgical operations per year using the traditional method. Compute the total revenue, the total cost, and the profit at the..
If John and Jose are not able to recognize and respect cultural differences, they may contribute to the emergence of which type of conflict?
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