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Explain why the monopolistically competitive industry is said to be inefficient with "too many firms, each producing too little output." Explain what might offset this inefficiency from the point of view of consumers. Answer this in two or three sentences.
Explain the process of revenue at NSU, focusing on the relationship between the increased revenue from students enrolling at NSU despite the higher tuition and the lost revenue from possible lower enrollment.
An order written by the exporter instructing the importer, or their agent, to pay a specified amount of money at a specified time is a: Note Payable, Draft, Promissory Note, Check.
Suppose as your company's lobbyist, what would you like to see done through Federal government that would be of help to your company? This could be what government could do or what they could stop doing this.
How would income distribution and resource use change if a flat rate tax on comprehensive income were substituted for current progressive income tax in United States?
Define depository institution, and discuss types of depository institutions are found in the U.S. and how do they act as intermediaries between savers and borrowers?
Through what channels does monetary policy affect the economy? That is, what are the monetary policy transmission mechanisms? List first them, then clearly describe two of these channels.
Find out the market structure (competition, monopolistic competition, oligopoly, and monopoly) that best characterizes the infant formula industry.
Real GDP equals 5000, nominal GDP equals 10,000 and the price level equals 2, then what is velocity if the money stock equals 2000?
Discuss the main factors (supply and demand) affecting the current price of gasoline. Include at least two supply and two demand.
Test the null hypotheses that the slope terms are individually insignificant using one-tailed t-tests using a .05 level of significance and evaluate the quality of the model.
Changes in price do not always impact demand to the same degree, and in some cases change in price impact demand very little. Such goods are said to have relatively inelastic demand.
How will this change the industry output and market share for each company and is there any incentive for any company to cheat under either of the conditions in tasks a and b? Why or why not?
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