Reference no: EM131240548
a) Read the statement below carefully, and decide whether it is true or false. And then explain your answer (whether “true “ or “false”).
Suppose that you own STL Burgers at the airport. If another shop (Macro Burgers) opens at the airport, then you’d expect that the absolute-value of Ed for your product would decrease.
b) Read the statement below carefully, and decide whether it is true or false. And then explain your answer (whether “true “ or “false”).
Suppose that you are a manager of a shoe company. Producing more shoes will always translate into more profits because more shoes means more revenues.
c) Read the statement below carefully, and decide whether it is true or false. And then explain your answer (whether “true “ or “false”).
A Wall Street Journal headline that says “Saints Corp.’s 2012 Income Up by 5% Over Year Ago” indicates that Saints Corp.’s sales were higher in 2012 than in 2011.
d) Read the statement below carefully, and decide whether it is true or false. And then explain your answer (whether “true “ or “false”).
If a firm is earning positive accounting profits, then it must also be earning some economic profits.
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If the price of smart phones increases
: If the price of smart phones increases which of the following will happen?
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The effect of change in t on the equilibrium price
: Where a, b , c, e and f are positive constants and t is the average temperature in month. show how the equilibrium quantity and price vary with temperature. The effect of a change in t on the equilibrium price (p) is dp/dt = ?
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The justifications given for the law of supply
: Which of the following is one of the justifications given for the law of supply?
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Divided customers into two groups for examination purposes
: Mississippi Delta, Inc. has been selling switching equipment to computer companies on net 30 terms, in which payment is expected by 30 days from invoice data. Concerned about deteriorating collection patterns, the credit manager has divided customers..
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If firm is earning positive accounting profits
: Suppose that you own STL Burgers at the airport. If another shop (Macro Burgers) opens at the airport, then you’d expect that the absolute-value of Ed for your product would decrease. If a firm is earning positive accounting profits, then it must als..
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The law of demand states that if gold becomes more expensive
: Tim, a high school senior, decided to sign up with a professional baseball team, instead of going to college. This implies that, to Tim, the benefit of going to college is more than the opportunity cost of doing so. Explain The Law of Demand states t..
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Firm competitive advantage influence the nature of returns
: What are above average returns? How does firm competitive advantage influence the nature of returns?
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Calculate the utility maximizing bundle
: Suppose John has an income of $120 per period and faces prices Px=2 and Pz=3. His goal is to maximize his utility, described by the function U = 10x^0.5 * Z^0.5. Calculate the utility maximizing bundle (X*,Z*) using the Langrangian method. Derive the..
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One of the criticisms of fiscal policy
: Which of the following is not one of the criticisms of fiscal policy?
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