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There are two goods in the economy, anchovies (a fish) and bananas ( FARM product). Draw the economy's production possibilities before and after a natural disaster that lowers the banana harvest but does not affect anchovies.
Suppose that instead of maximizing profit, the firm wants to maximize total revenue. Using algebra determine the optimal output, price, profit and revenue for the firm.
Suppose initially that the demand supply for premium coffees is in equilibrium. Now suppose Starbucks introduces the world premium blends, demand increase substantially.
Show that if oil is produced from two reservoirs, one with high marginal cost and one with low marginal cost, it is not possible for the Hotelling rule to be satisfied for each reservoir simultaneously. Give two reasons that oil might be produced ..
Graph and describe what effects would be short run production function if a new advanced process was found and how would the number of employees hired change?
Describe why a Keynesian approach to managing the macro economy might be appropriate while, at another point in time, a classical approach might be more likely to produce a superior outcome.
Calculate the price elasticities of demand for A and B at P=30, 20 and 10. How does the elasticity change as you move down the demand curve?
Provide the advantage of dynamic pricing over fixed pricing and what are the potential disadvantages of dynamic pricing?
Describe the importance of cost of capital with respect to the actual financial problem of most manufacturing companies.
Listen carefully to the following video and summarize the main points that he is making and to what extent is it related to Adam Smith's invisible hand
State the direction of the alternative hypothesis used to test whether the proportion of analysts correctly anticipating the Board's decision had changed. Type gt (greater than), ge (greater than or equal to), lt (less than), le (less than or equa..
What is the group preference and what is the group choice according to the Borda count rule? Please justify your answers.
Identify the choice that best completes the statement or answers the question and table shows a game played between two players, A and B. The payoffs in the table are shown as (Payoff to A, Payoff to B).
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