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Question: Consider the following products. Decide whether each one meets the conditions of perfect competition-state that it does or does not. Try, as much as possible, to answer these questions related to this good:Do buyers and sellers have good information about the prices being charged in the market? Is the product standardized? Are there many buyers and sellers? You can base your answers on your own knowledge and experience (common knowledge).
a. Apples in the grocery store.
b. Plane tickets from New York to Seattle.
c. Insurance for your car.
d. Video games.
e. Cable television service for your home
f. Tickets to a professional football game.
For all market conditions that a business can operate in, the marginal cost curve for its costs will select one: Rise in the beginning to reflect the law of diminishing returns. Always go through the minimum point on the average fixed cost curve
What share will be paid by the consumer in the long run? How about the short run? Provide some intuition for why these are different.
A dapper young decision maker has just purchased a new suit for $200. On the way out the door, the decision maker considers taking an umbrella.
Discuss, using examples and academic references, the statement that perfect competition gives an optimal allocation of resources but that the existence of scale economies may make perfect competition impossible.
Write a class called Book that has two private member variables called page (integer) and topic (string). It also has a static private member variable
According to the BLS, wage rates in Mexico are only about 10% of those in the US. What factors would determine whether your firm should shut down its plants.
Problem: In the United States, men's heights are normally distributed with a mean of 69.1 inches and a standard deviation of 2.9 inches
Consider a microfinance institution's objectives. What trade-off might it face when deciding between lending to women or to men?
Several states in the United States, including Wisconsin, Vermont, and Minnesota, also have such legislation. Many states require certain persons to report speci?c kinds of crimes, most often child abuse. Find and compare two state statutes.
Identify at least three objectives for the organization's customer service perspective and show how they relate to the mission, vision and strategy of the organization.
Why Exceptional demand and reasons for exceptional demand curves.What is change in demand and change in quantity demand
What is the rationale for taxpayer support of the separate and costly hospital system of the Department of Veterans Affairs? About 350 words with one reference.
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