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A. How is economic growth measured?
B. Why is economic growth important?
C. If a country's economy grows at an average rate of 14 percent per year. How many years would it take to double?
Your current salary is $70,000 per year and you are planning to retire in 25 years from now. You anticipate that your annual salary will increase by $3,500 each year. You plan to deposit 5% of your yearly salary into a retirement fund that earns 6.75..
Complete the questions below based on the following scenario: ABC Financial starts its first day of operations with $9 million in capital. A total of $130 million in checkable deposits is received. The bank makes a $25 million commercial loan and ano..
Anthony Antunicci, a Massachusetts lawyer, has tired of the long, cold New England winters. He recently spent three months in Florida where he took a Florida bar review course which enabled him to successfully pass the Florida bar exam. Can Anthony d..
You have just been hired by a company as an economist and strategic planner. Your company has asked you to generate a report explaining the consequences of the market structure in which the company operates. Assume that the market structure is an oli..
Nonmarket work includes time spent
Suppose that the income elasticity of demand for peanut butter is 0.75. Which of the following is true? If the prices of computer tablets rise, we would expect the number of tablet covers purchased to: The income elasticity of demand
Prove that inferior goods (goods with a negative income effect) have a backward bending income consumption curve. Prove that giffen goods have a positively sloped demand curve and a backward bending price consumption curve. Comment about substitution..
Who wins, who loses under a wheat tax versus a subsidy? How does the deadweight loss of the tax compare to the deadweight loss of a price support subsidy? Why, in social welfare terms, is a tax a better than a subsidy?
The settlement requires KopyKat to pay the employee $10,000 per month for the next year. Determine the optimal price and output for the firm under these new conditions.
What are switching costs and what do they imply for pricing? Discuss three examples from the financial services industry showing how a marketer can take advantage of switching costs.
A small monopoly manufacturer of widgets has a constant marginal cost of $10. The demand for this firm's widgets is Q = 105 - 1P. Given the above information, calculate the social cost of this firm's monopoly power.
Determine the firms optimal two-part pricing strategy; that is determine the firm's per unit price and fixed charge along with the firm's output. Calculate the firm's profit in this case.
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