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Chapter 6 - Market Power from Monopoly
In chapter 6 we talked about the concept of market power. Company who dominant market share of industry has power to decide market price. Let us apply this concept into our personal career life.
1. How do you gain your career power in order to let you have power to decide your salary?
Chapter 7 - Company's Demand Estimation
In chapter 7 we learned the concept of demand estimation and why demand estimation is important for company to maintain marketing balance. Let us apply this concept on a personal level. For example, you can apply this concept to your future career search.
2. If you were a product in job search market, how do you estimate the product's future demand?
This document contains various important questions and their appropriate answers in the subject field of Economics.
Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.
Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..
Explain each of the following using supply and demand diagrams, With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.
The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.
Draw the production possibility curve and a. Define consumer surplus and producer surplus.
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The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled
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What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution
Calculate gross national product and net national product
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