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1. How does a car salesperson practice price discrimina- tion? How does the ability to discriminate correctly affect his or her earnings?
2. Electric utilities often practice second-degree price dis- crimination. Why might this improve consumer wel- fare?
Do the following functions exhibit increasing, con- stant, or decreasing returns to scale? What happens to the marginal product of each individual factor as that factor is increased and the other factor held constant?
A company purchases a piece of construction equipment for rental purposes. The expected income is $3,100 annually for its useful life of 15 years. Expenses are estimated to be $355 annually. If the purchase price is $25,000 and there is no salvage va..
What three legal doctrines had an important impact on economic activity during the first period of US national development? Describe their impact
What are some of the traits a developed nation has that a less or undeveloped nation does not have
Calculate the equilibrium price and quantity that will prevail in a free market and calculate the price elasticity of demand and the price elasticity of supply at the equilibrium.
the widget market is competitive and includes no transaction costs. suppliers are willing to sell five widgets at 30
describe the process by which the market for capital and the market for labor reach equilibrium. what happens to each
Discuss how is the liquidity money (LM) curve derived and determine what impacts it and how does it impact the global economy? Provide examples and support your claims.
You are to select a newspaper/magazine/web article for economic analysis. The article must relate to Micro Economics. The article must also have been written after 1st June, 2012. You are to apply your economic theory to explain and analyse the newsp..
Explain, using demand and supply curves how demand and supply would change for the introduction of a new supermarket into Australia.
The number of cell phones (CP) in the United States has been growing according to the following model CPt = CP0(1 + g)t where g is the growth rate and CP0 is the number of cell phones (in thousands) in 1995
It is assumed that the toothpast market is perfecty competitive and the current price of a case of toothpaste is $42.00. With an estimated marginal cost function to bas follows: MC=.006Q How would you begin to work a problem of this sort?
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