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Microeconomics - Final Exam Study Guide
The guide is set up as a series of questions about the concepts and terms covered on the final exam. They are in no particular order.
Explain how political competition occurs in china without democratic elections between multiple political parties.
The machine produces 500 pieces each year. Using an annual interest rate of 7%, what is the cost per piece produced?
Suppose that a market is decribed by the following supply and demand equation:
Describes the theory the researchers explore. What are the key constructs in the theory? How are they related? Identify which ones are cause, effect, mediating
Ace manufacturing produces 1000 hammers per day the total fixed cost for the plant is 5000 per day and the total variable cost is 15000 per day calculate the average fixed cost average variable cost and the total cost at the current output level.
Suppose the market for a certain dosage of generic blood thinners has a supply described by P=1.88+2.62Q and a demand described by P=4.74-1.39Q. Calculate the equilibrium quantity?
Suppose a local bank increases the fees they charge for their bank accounts by 5 percent. In response, the demand for their bank accounts decreases from 35,000 to 5,000. What is price elasticity of demand for this bank's accounts?
Discuss a recent change in the technological environment that impacts marketing. How has it affected buyer behavior and how has it changed marketing?
Suppose the NDP come into power and decided to mandate that films pay a 50% over-time premium on hours worked beyond 8 hours a day. Draw the original budget constrain before an overtime premium was required and compare it to the new budget constraint..
Illustrate what will be level of employment under monopsonistic conditions.
In Role of Government in Regulating Business Ethics and "Business Ethics: The Law of Rules, the authors seem to argue that overreaching laws and regulations do not facilitate ethical behavior, and indeed might have the opposite effect. Using these ar..
During 2009, the demand for LCD televisions appeared to be falling. At the same time, some industry observers expected that several smaller television manufacturers might exit the market. What would a price ceiling set below the resulting equilibrium..
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