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1. Provide an example of correlation between 'marginal cost' and 'average cost."
2. Explain why "profit maximization" leads to different price depending on whether the market is "perfect competition" or "monopolistic competition."
3. Provide an example of 'positive' "externality" and an example of 'negative' "externality." Explain the effect in terms of "market failure" of each example.
Can you think of any examples of markets where time-varying prices might arise to pass along higher marginal costs that occur during certain periods
Assume an economy without government and without trade. Suppose the Consumption function is given by C=100+0.8Y, whereas I=50. What is the equilibrium level of income in this case? What is the level of saving in equilibrium?
With iterated deletion of strictly dominated strategies, does the order of deletion matter? Explain your response.
The demand for normal goods. Price discrimination works best when. If a price ceiling is to be effective, it should be set. The formula for the elasticity of supply is
Under the factors that government spending is cut, and taxes increase. how would you argue it positively.
What would be the ideal role for government in the U.S.?
A seller is willing to sell a product only if the seller receives a price that is at least as great as the...
In the United States there are few “permanently poor.” Income mobility studies indicate that fewer than 5 percent of those in poverty stay there. They better themselves and move up the income ladder. Given this information, do you believe we need to ..
Regarding the various Walmart labor practices discussed in this case, do they reflect immoral or just amoral management actions?
Explain how low must a quota be in effect to have an impact. Using a demand-and-supply diagram, illustrate and explain the net welfare loss from imposing such a quota.
What is the main reason that embargoes have been used throughout history?
a. Determine the regression equation. b. Estimate the selling price of a 10-year-old car.
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