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Explain. A Congressman asserts the following argument: we need to produce more oil here in the United States. We consume 20 about million barrels of oil per day. If we promoted oil drilling in the United States, we could easily increase our domestic supply by 1 million barrels per day. This is about 5% of our consumption. The elasticity of demand is about -0.1, so 5% more supply means the price would drop by as much as 50%. This would be a great benefit to US consumers.
As a budding entrepreneur, you have purchased a small bagel shop. You have engaged in a market study to categorize your customers' willingness to pay for a meal (coffee+bagel) into 8 equal sized groups: ($5.00, $4.50, $4.00, $3.50, $3.00, $2.50, ..
Globalization has changed world economy in many ways. One result of globalization is off shoring which has had its share of economic impacts on domestic employment as well as world employment.
Assume her estimated selling price is lower than originally projected. How much revenue would she need in order to earn a positive accounting profits.
Explain why do you think we have laws that prohibit discrimination in pay based on sex or race but permit employers to discriminate in pay based on education or experience.
Tangible would be the treatments themselves, i.e. the alterations they make. Intangible would be the uplifting experience, the sense of well-being, increased confidence etc.
You work for an unemployment agency that distributes unemployment checks to unemployed workers in your state.
Suppose that technophiles are willing to pay $400 now for the latest iPhone, but only $300 if they have to wait a year. Normal people are willing to pay $250, and their desire to purchase does not vary with time. Ignore the time value of money a..
Explain why RELATIVE prices of two goods, both produced in each of two countries, will differ prior to any trade taking place ("autarky"). why profit-seeking will cause each country to specialize - wholly or partially - in producing one of the goo..
Determine what would happen to GDP if a significant number of house spouses who were previously stay home to care for their children began taking jobs and placing their children in day care?
Conduct an environmental scan of businesses at present climate to determine which variable of the environment, such as economic, political, social
In current years non-tariff barriers have gained in importance as a protectionist device. Describe and evaluate the major non-tariff trade barriers.
In the months of preceding the expiration date, bargaining teams for the UAW and General Dynamics met to negotiate a new contract.
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