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1. In a short paragraph, define what a price signal is. Describe the type of signal that producers high price would get if there was a and a low price. Then, describe the type of signal that consumers would get if there was a high price and a low price.
2. In a short paragraph, explain the function of a price in our market economy. What does it do? What does it show? How does it affect producers and consumers? (You may want to use some key vocabulary like incentive, competitive pricing, signals, motivation, flexibility, profits, equilibrium, stability, etc)
3. In a short paragraph, describe the 3 different types of price systems. Then, explain which type of economic system is the most efficient and the reasons why it is the most efficient.
Describe some of the reasons why supply will change. Improved technology typically results in lower prices for most products. Why do you think this is true?
Pick any public company and discuss which 2 or 3 macroeconomic indicators which would most profoundly affect that business and why.
Consider the following data from a random sample: 23 12 26 14 20 25 14 11 21 14 25 21 22 21 8 19 17 22 17 16
Explain how does a firm solve this pricing problem to maximise profits. Explain, using a diagram to support your answer.
If your neighbour returns from a shopping trip saying that she got a lot of consumer surplus from her purchases
Which countries (and groups within a country) most likely oppose international labor standards? Explain why. Explain why some countries use voluntary export restraints (VER) instead of import quota? List and explain at least three reasons as to why c..
how can you stretch your grocery dollar to plan nutritious meals for you and your children? Would you seek the assistance of federal programs
Suppose a bank discovers its reserves will temporarily fall slightly short of those legally required. How might it remedy this situation through the Federal funds market? Now assume the bank finds that its reserves will be substantially and permanent..
The firm uses the CAPM to estimate the cost of equity, and it does not expect to issue any new common stock. What is its WACC?
Suppose 1.5% of the antennas on new Nokia cell phones are defective. For a random sample of 200 antennas, find the probability that
Illustrate what is the difference between absolute advantage and comparative advantage. If a country has an absolute advantage in both goods.
Do you agree that the private sector in Nigeria should be focusing on creating jobs for the youth?
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