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(a) Explain what happens to observed prices in posted offer and double auction markets as the number of sellers drop
(b) Explain what happens in these two markets as the number of sellers drops to only one seller.
(c) Explain why part (b) illustrates the first experimental principle.
Please provide detailed answers for all 3 sections ANSWERING the questions and NOT providing definitions.
When the competition is intense and the environment is changing rapidly, it is especially important to
Assume that the inflation rates in 2010, 2011, and 2012 were 1%, 2%, and 3% respectively. During the same periods, nominal interest rates were 5%, 5%, and 6%, respectively. What are the ex-post real interest rates in 2010, 2011, and 2012?
If the annual benefits are $30,000, the annual disbenefits are $4000, the annual operating and maintenance costs are $6,000 and the annual worth of the initial cost is $9,850, what is the conventional benefit to cost ratio of a 50 year project?
Assume the firm is operating in a high-wage country, where capital cost is $100 per unit per day and labor cost is $80 per worker per day. For each level of output, elucidate which technology is cheapest.
By how much will total economic surplus change if the city council passes a law requiring employers to include full reimbursement
Suppose that a profit maximzing monopolist’s marginal costs increase at all output levels. What is likely to happen to the quantity the monopolist produces, AND the price it charges? Support your answer.
Determine one possible combination of government spending increases and tax increases that would accomplish the same goal without changing the amount of outstanding debt.
We suggested above that an annually increasing renewal fee would be an efficient means of setting optimal patent life. Similarly, suppose that owners who wanted to restrict future use of their property had to pay a fee for each year that the restrict..
adam smith rejected utility as a foundation for value. he illustrates this rejection in his famous diamonds and water
Using any relevant information below, calculate GDP via the expenditure approach. Nominal GDP in Nowhereland in 2002 and 2003 increased from $4 trillion to $4.8 trillion. Can you say that the production of goods and services in Nowhereland has increa..
In Japan, Toyotas can be produced at 1,900,000 yen and Chevrolets at 1,600,000 yen. In terms of Chevrolets, illustrate what is the opportunity cost of producing Toyotas in each country.
Discuss a time when you have had to deal with a sensitive and/or a negative message like working in retail. What would you do differently in light of the material covered in this module? If you would do nothing differently, describe how your handling..
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