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The World Bank is currently advising newly industrialized countries on how to encourage growth and they have asked for your help.
• Using the Internet, library and/or other resources, research and briefly explain 2-3 methods currently being used to encourage economic growth for the typical firm in Hong Kong and for the typical firm in Singapore.
• Which of these methods of encouraging growth would you suggest for the typical company in Hong Kong and Singapore?
• Explain the rationale for your choice.
Assume that the technology of producing widgets is that every company entering the market has the same total cost curve, as follows; TC=1000+5Q+0.1Q^2
Changes in price do not always impact demand to the same degree, and in some cases change in price impact demand very little. Such goods are said to have relatively inelastic demand.
Identify which of the determinants of demand or supply are affected and also indicate whether demand or supply increases or decreases.
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.
A company wants to prepare the demand curve for its product that it is selling. How would it get the information to prepare the schedule? How could a company prepare the demand curve for the new product that has not been seen by the public?
Curly's Life Insurance Co. is trying to sell you an investment policy that will pay you and your heirs $33,000 per year forever.
Suppose you are the manager of a small pharmaceutical firm that received a patent on a new drug 3-years before. Despite strong sales and a low marginal cost of manufacturing the product
How might prohibitions on advertising affect the cigarette industry in the short run, and in the long run using a Prisoner's Dilemma sort of argument.
A Federal Reserve Bank has employed the economic consulting company to make a paper on how the use of money has changed over the past twenty years.
What is an "oligopoly" and why do they exist? Mention three or four oligopolies whose products you own or regularly purchase.
Assume that the following table describes prices, incomes, and per person lobster consumption in three United States cities.
Interpret the components of mathematical equations that explain the linear programming problem for each of the following:
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