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Question: A social media star makes reviews on restaurants based on one-time visits. Only the restaurants that preforms superb meals at her first visits are listed in her reviews. However, when she visits the same restaurants again, she is puzzled by how seldom the second visit meals are as good as her first, Explain shortly, maximum two sentences, why this is expected?
The substitution bias in the customer price index refers to the:
Who in the Ethiopian society has the most difficult time dealing with scarcity? What do they need most? How can their society provide for their wants and needs? Why are they so impoverished? What can their governments do to help, or hinder their coun..
Suppose real GDPs in country A and country B are identical at $10 trillion dollars in 2005. Suppose country A's economic growth rate is 2% and country.
Gordon lists his old Lionel electric trains on eBay. He sets a minimum acceptable price, known as his reserve price, of $75. After five days of bidding, the final high bid is exactly $75. He accepts the bid.
Assume that Toyota transports the cars to London by itself at a cost of $120 per car. What price should Toyota set in London in order to maximize its profit? What will its profit in London be in this case?
On balance one would argue that our society is mixed on the question of allowing firms to operate with market power; we certainly don't permit unregulated monopolies from operating but we do have a lot of industries where firms are permitted to..
If there is a constitutional requirement to maintain a balanced budget, then during a recession when tax revenues are shrinking, the government will have to implement
Julie is getting ready for final exams. She has three exams during the first three days of the exam period. To prepare, she has outlined a schedule that includes reviewing for her first exam on one day, her next exam on the following day, and her ..
In this section, your goal is to identify and analyze the international business operations of organizations related to global opportunity you are exploring.
What problems can inflation cause in an economy? Which policy tool or combination of policy tools would work best to contain inflation? Does the policy tool or combination of policy tools differ in case of low inflation?
Identify two microeconomics and two macroeconomics principles or concepts from the simulation. Explain why you have categorized these principles or concepts as microeconomics or macroeconomics.
problem 1if the optimal number of facilities that minimizes the total logistical cost for a certain supply chain is
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