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1. List three businesses that can exist today, because of the World Wide Web that could not have existed before the advent of this technological communication system.
2. How has the World Wide Web allowed supported the establishment and functioning of these businesses?
3. Do you think that the World Wide Web has made it easier or more difficult to start new businesses? Explain your answer.
4. Do you think that the World Wide Web has made it easier or more difficult for companies to establish themselves as monopolies? Explain your answer.
Now, pretend that you are an editorialist, and write editorial considering whether or not you believe that monopolies should be illegal and defend your argument using pertinent economic theory.
A firm can manufacture a product according to the production function: Calculate the APL when the level of capital is fixed at 16 units and the firm uses 16 units of labor. How does the APL change when the firm uses 81 units of labor?
Why the adverse effect on output is larger when the Fed is decreasing money supply than holding it constant.
(1) Graph the pre-tax supply and demand curves. (2) What is the equilibrium price and quantity before the tax?
Graphs are normally two dimensional in their use of an x and y axis. What advantages do multi-dimensional graphs have in terms of using three dimensional representations (x, y and z graphs or even additional axis representations) and do these present..
At an interest rate of 2 % per month, money will double in value in how many months? A manufacturer purchased $15,000 worth of equipment with a useful life of six years and a $2000 salvage value at the end of the six years. Assuming a 12 % interest ..
Consider we wanted to know how many trips versus dinners out you could purchase. If you were told that X = number of trips and Y = the number of dinners out and you were given the following budget information; M=4000, Px=800, and Py=100, Show in your..
Jones Auto Sales calculates its “4%” ?nancing as follows. If $3600 is borrowed to be repaid over a 3-year period, the interest charge is ($3600)(0.04)(3 years) = $432. What effective annual interest rate is being charged?
Compare and contrast the two main perspectives on business power in the US economy (dominance and pluralistic) and choose the one more applicable to contemporary US.
What is the equilibrium price paid by the demanders for merino ewes now. Elucidate what is the equilibrium price received by the suppliers for merino ewes.
Suppose that Jenna’s preferences over baskets containing petrol (good x), and food (good y), are described by the utility function U(x, y) = xy + 100y. The marginal utilities for this function are, MUx = y and MUy = x + 100. Find Jenna’s petrol deman..
How would you make a convincing case that open trade in goods and services as well as free flow of foreign direct investment will enhance the well-being of (a) consumers, (b) producers, and (c) the government of countries? Give specific examples to p..
Assume this economy is closed to trade, and compute consumption, government purchases, national saving, and investment.
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