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US imports oil at the world price, $55 per barrel. The domestic supply curve in barrels per day is S = 2500000 + 250000P with P in dollars. Domestic demand curve is D = 70,000,000 - 500000P. Draw the US demand and supply curves for oil and indicate how much is imported in barrels of oil and its value per year.
Identify at least four forces in general environment of organizations and provide an example of each for an industry or business. How do se forces differ from external stakeholders in task environment.
which of the following is the best explanation for the state's historic reliance on severance taxes on oil and gas production.
Pick a firm in the fashion/retail industry. In your opinion, how does the firm you selected acquire market power? What impact do barriers to entry have on the firm's market power?
Which resource of production is the only one which nations can significantly increase in the short term.
What would the Consumer Surplus, Producer Surplus, and Total Surplus be for the quantity demanded =1000-P and the quantity supplied =3P-120?
In many Sub-Saharan African countries, girls have lower enrollment rates in secondary schools than do boys.
A company is considering getting involved in electronic commerce. A modest e-commerce package is available for $29,000. If the company wants to recover cost in 2 years, what is the equivalent amount of new income that must be received every 6 months ..
Why are coal miners in China paid higher than factory workers even though they have received more or less the same level of education and training? Why are workers with good looks paid higher in some jobs, but not in others? A recent report released ..
Determine where each of following increases, decreases, or remains unchanged in short run: market interest rate, quantity of money demanded, investment spending, aggregate demand, potential output, price level and equilibrium real GDP.
Bribes: Two players find themselves in a legal battle over a patent. The patent is worth 20 to each player, so the winner would receive 20 and the loser 0. Given the norms of the country, it is common to bribe the judge hearing a case.
xplains with aid of a diagram, effect that such legislation will have/has had on equilibrium price and quantity of labour employed. Also illustrate what can be done to alleviate/remedy any problem that may rise from above laws.
Assume an open, mixed economy. Assume the MPC is .7. Assume a stimulus package of $100 billion has been approved by Congress and the money has been spent. In order to pay for those expenditures, Congress also approved a $100 billion increase in indiv..
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