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1. Share your opinion on the follwing questionsa) What is utility-maximizing rule ?
b)What is indifference curve and why does it slope downward.(see Appendix)?
2.a) Make a distinction between price ceilings and Price floors.(Give examples of each of the price controls.
b) Define Price elasticity of demand. If a firm`s demand curve is less elastic(less than 1), should it raise or lower the price in order to improve its total revenue.
c) Make distinction between normal goods and inferior goods. Provide examples. Which elasticity measure (price, income or cross elasticity) classifies goods as inferior and normal goods.
d)Why different consumers (corporate versus residential) pay different prices for the use of electricity (power)?
e) What is a deadweight loss?
A supply curve differs from a supply schedule because a supply curve is a graph and the supply schedule is a table. represents all firms in the market, whereas the supply schedule represents one firm. holds the number of suppliers constant, wherea..
What cultural competencies should a global leader possess - Individual design of a mini business conference
Calculate the premerger Herfindahl-Hirschman index (HHI) for this market and suppose that any two of these firms merge. What is the post merger HHI?
Why the focus in interest rates and unemployment and why can they keep the interest rates low? How do bond purchases tie in with the interest rates?
Evaluate the usefulness of the diversity information to potential employees, customers, and suppliers. Is the diversity material related to the organization's business case for diversity, core values, mission, etc.
GM Company is considering opening a dealership in Germany, but is unsure ifit can earn an 8% rate of return that is promised by an alternative investment (of similar risk).The initial outlay for a dealership office would be $400K, and another $220K w..
Consumers will buy 150 clocks at a price of $40 each, but only 50 clocks at a price of $80. What is the Demand Function (price as a function of quantity)?
What are the equilibrium quantities when the nations trade freely at price of $15? Explain your answer
How is the U.S. economy different from a command economy and Can the U.S. economy be called a true free market economy?
If auto firms eliminated their advertising, could they reduce car prices? What would happen to unit sales?
Two identical firms have access to a spring. Their marginal cost of bottling water from the spring is a constant 10¢ per bottle. The market demand for bottled spring water is P=250−20Q, where P is the price (in cents per bottle) and Q is the quantity..
Why is perfect competition usually a preferable market structure compared to monopoly? Discuss the conditions under which a monopoly would be the preferable market structure for productive efficiency.
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