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Was the severe shortage for over two years an old marketing ploy called intentional scarcity, in which a company purposely keeps its hot product in short supply to build buzz. Or was it simply bad planning on Nintendo's part? What did this mean for households? What were the implications for Nintendo?
Furthermore, why did Nintendo drop the price of the Wii console in 2009? How would you expect this would affect company revenues?
As for the publicly funded roads - who might people consider to be free riders when it comes to the roads? Do you agree? What are some externalities, positive or negative, that public roads produce? Think of the case of new "luxury lanes" being made out of carpool lanes on the 110 and 10 freeways (which may extend to the 405 as well). Taxpayers paid for those lanes and pay to maintain them, but they are now only usable if you pay an extra fee. Is that fair?
A machine that produces a certain piece must be turned off by the operator after each piece is completed. The machine "coasts" for 15 seconds after it is turned off, thus preventing the operator from removing the piece quickly before producing the ne..
Using the data below, we are now going to use our supply/demand framework for US $ to model the movement in the euro per $ exchange rate between December 2007 (the very beginning of the Great Recession) and November 2008 (pretty much the height of th..
Assume that the price of smartphones increased from $600 to $666 per unit. The manufacturer decides to supply 14,000 units instead of 10,000. Calculate the price elasticity of supply. Is supply elastic or inelastic?
There are many programs currently in use today that advocate the prevention of delinquency in youth. In a 1-2 page paper identify at least two such prevention programs and describe the strategy each uses to further the cause of preventing these crimi..
In what conditions will an increase in the price of a product lead to a reduction in total spending for that production.
Canada has a private market for the provision of health services, and until about 1970, spent the same % of GDP as the US on healthcare. Since that time, however, the rate of healthcare inflation in Canada is far lower than in the US. Does this mean ..
Economies of scale exist whenever long-run average costs
The inverse demand curve for widgets is P = 130−2Q. There are two firms, A and B, who produce widgets. Each firm has a constant marginal and average cost of producing the good that equals 10. Find the best-response function of each firm. Remember tha..
Describe the advantages and disadvantages of acquisitions as a means of establishing a wholly owned subsidiary. Describe the pros and cons of Greenfield Ventures.
By appealing to the concept of social indifference curves, explain clearly how the program of maximizing society's welfare subject to its PPF is solved analytically under autarky? How is this also solved under trade in the Ricardian model?
Use the theory of transaction costs to justify protecting the following rights by injunction or damages: Suppose that two people choose to litigate a dispute. Should the law presume that if two parties are prepared to litigate, transaction costs must..
In 200 words Explain Cooley’s argument in “Genetically Modified Organisms and Business Duties” What would Cooley say about the activities of Monsanto and related in the case study “Monsanto’s
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