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Three products that you believe are provided by a "pure" monopoly, or at least by firms with a high degree of monopoly power. List substitutes for the products sold by each of these "monopolies".
Two firms that produce an identical product are located at each end of a street of length 10. There are consumers uniformly distributed along this street who value the product at V = 50 and desire at most one unit of the product. What are the optimal..
Members of the Federal Reserve Bank, the central bank of the United States, meet every six weeks to adjust interest rates based on economic conditions.
How does theory hypothesize that a current account trade deficit will be resolved.
Suppose you contribute $10 per week ($520 per year) into an interest-bearing account that earns 6% a year (compounded once per year). That’s probably one less pizza per week! But if you contribute faithfully each week into this account, how much mone..
Since its founding in 331 B.C.E., the city of Alexandria has been a center of trade for the Mediterranean countries, as well as the Middle Eastern countries. Part of this is due to geography, but it is also due to the network effect. What is the sour..
Donald is a stamp collector. The only things other than stamps that Donald consumes are Harold's doughnuts. It turns out that Donald's preferences are quasilinear, represented by the utility function U(d, s) = lnd + s, where d is the number of doughn..
Max has the utility function U(x, y) = x(y + 1). The price of x is $2 and the price of y is $1. Max’s Income is $11. How much x does Max demand? How much y? If his income doubles and prices stay unchanged, will Max’s demand for both goods double?
How will the money supply be affected by this transaction ? what is the ultimate change in deposits, loans, and reserves in the banking system? Explain in detail.
If average costs and marginal costs are constant then
How does lower and middle management decision management differ from upper-management in terms of basic economics.
Discuss a decision made by your chosen company that involved costs that should have been ignored. why did the company include these costs in their decision process.
Suppose he is offered fair insurance with a $3000 deductible. What premium will he pay and what will be his expected utility with insurance.
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