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How does a high-tech industry differ from most other industries? Provide two examples.
Consider both sides of the argument and come to a decision of whether to close the plant or continue to operate it. How would you explain to either the president or the CEO that he or she is wrong?
Why does the entry of new firms occur in a competitive market when price is above average cost for the existing firms? Provide real world examples.
Many industrialized countries such as the United States attempt to seriously restrict immigration of production workers, but are more open to immigrants who are highly-skilled. Why might this be the case? Why is this a problem for developing countrie..
Distinguish a single-price monopolist from a price discrimination monopolist. What is the logic or rationale for operating as a single-price monopolist and/or price-discrimination monopolist? Provide an example of each.
In your opinion what is the most important ethical issue concerning information security management facing the nation?
What kind of market events would result in disequilibrium? How would this disequilibrium affect the economic markets?
Explain the benefits of a market economy. What is to be produced? How are the goods to be produced? For whom are the goods produced?
What are the main reasons for the existence of financial intermediaries? Define asymmetric information. What is the Asymmetric information problem of lending? Discuss the adverse selection and moral hazard problems of lending.
Beth’s Lawn Mowing Service is a small business and operates in a perfectly competitive market. The costs function for Beth’s company is given by: total cost (TC) =0.1q2 + 10q + 50 and marginal cost (MC)=0.2q + 10, where q=the number of acres Beth cho..
We are seeing a merging of media firms. For example, companies like Verizon now provide phone, cell, TV and internet. A common form of selling services involves putting them together in packages or “bundles” and offering them for a lower price than i..
The additional output produced by a firm as a result of hiring another worker is called the marginal product of labor. The amount by which a firm’s revenue will increase as a result of hiring one more worker is called the marginal revenue product of ..
What happens if the FOMC members DISAGREE on what to do with Monetary Policy? How is a compromise or resolution reached?
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