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A local hardware store is trying to decide whether to stay open. They have found that their industry is extremely competitive and profits have shrunk considerably. Knowing that you have taken an economics course, the owners have asked for your opinion. Draw 2 completely labeled graphs to help you explain the shutdown decision. One graph must be for the market as a whole, and the other must be for this store in particular. Assume that the store is losing money; however, explain why they may want to stay open for a little while longer. (Note: Your answer should include a written explanation of your graph.) I need the graphs included please.
Analyze the USA financial meltdown that happened in 2008-2009. This crisis was partially caused by the reward systems that were in place for participants in the financial system. Identify the major participants in the financial system.
The environment and healthcare are very important aspects of our lives, as discussed in your textbook. However, it is still unclear whether corporations should focus on these as rights or as privileges.
Suppose you are the manager of a restaurant that serves an average of 400 meals per day at an average price per meal of $20. On the basis of a survey, you have determined that reducing the price of an average meal to $18 would increase the quantity d..
Briefly summarize Portney's overall assessment of the 1990 Clean Air Act Amendments, and discuss the major implications of these findings for society.
q.assume the working income tax benefit tops up a single individuals income by 25 percent of the amount that employment
Which of the following are costs of high and/or unexpected inflation? Which of the following is NOT a function of the Federal Reserve?
Typically the government: Inflation caused by people’s expectations of inflation is called self-fulfilling inflation. The _____ the unemployment rate and the _____ the rate of inflation, the higher the misery index. If the nominal rate of interest i..
You have been asked to produce a forecast for your company's new product (bottled water). List and briefly describ four factors you would consider before giving the forecast.
How companies and countries are becoming specialised in certain industries to compete and expand their businesses. Compare Australia with any other country.
Draw the inter temporal budget constraint. Be sure to label the axes, endowment point and the absolute value of the slope. Suppose that the individual’s interest income is taxed at 25% in both periods, and that interest payments are deductible at 25%..
All points on the SP curve (but not on the LP line) share the characteristic that the economy is not in the long-run equilibrium because
Two power plants are currently emitting 8,000 tons of pollution each (for a total of 1,600 tons). Pollution reduction costs for Plant 1 are given by MCR(1)=.02Q and for Plant 2 by MCR(2)=.03Q, where Q represents the number of tons of pollution reduct..
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