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Business Economics, Nottingham University, UK
Essay Question
Essays should be no longer than 1500 words. Your essay should include a word count and a list of references (these are references to materials you have actually cited in the text).
Essays should display a clear structure and demonstrate reading beyond lecture notes and module texts. Please write on the following topic:
”Surge pricing” is a technique used to balance supply and demand in some markets for taxi hire. Using basic demand and supply analysis, illustrate how in principle this technique works, and assess whether it would be efficient to ban this practice.
Suppose the supply curve of medical services is perfectly inelastic. What is the shape of supply curve (e.g. vertical, horizontal, upward sloping)? Please also analyze the impact of an increase in consumer income on the market price and quantity of m..
A price elasticity of demand for Good X equal to -.85 implies. We also assume in macroeconomics that total expenditure is equal to total output Y=C+I+G. Given the following data, derive a formula that relates Y as a product of r (hint your result sho..
Price elasticity of supply is always positive except when supply is a. perfectly inelastic. b. relatively elastic. c. either relatively elastic or relatively inelastic. d. relatively inelastic.
If both questions are answered with random guesses, find the probability that both responses are correct.
Reenen wants to find a 90% confidence interval for the population average start-up cost µ for cosmetics businesses.
Mobile homes are housing units installed on a permanent foundation owned by a landlord. Although a resident owns the home, she rents the foundation from the landlord. In theory, owners of mobile homes can transfer their home to a different foundation..
For example, is there a best graphical representation for annual global mean temperature?
Share markets all over the world often increase or decrease together. What does a rise in the stock market indicate to you about the level of current and expected growth in the world economy?
You are the manager of the surgery department at a hospital which serves mostly Medicare patients. The hospital performs 1,000 surgical operations per year using the traditional method. Compute the total revenue, the total cost, and the profit at the..
Each of the five nations that have been asked to bid for the broadcast rights for the London 2016 Games. Prepare to negotiate prices and other organizational details.
Explain why both customers will be satisfied with the deal. What kind of price discrimination is this type of segmentation and how will the plan increase revenu
Therefore economic growth must have been very high in 2014. Do you agree with that statement? Explain.
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