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1. Suppose you are hired to manage a small manufacturing facility that produces Widgets.
(Part A) You know that you are operating in a monopolistically competitive market, that is, you are a small part of a large market with many competitors in this market. From data collected on the Widget Market, you know that market demand has recently decreased and market supply has recently increased. Name two shift factors and determinants that could have caused the market demand to decrease and two shift factors and determinants that could have caused the market supply to increase. Also as manager of the facility, what decisions should you make regarding production levels and pricing for your Widget facility?
Remember that supply and demand are about the market supply and market demand, which is much bigger than your own company. You are being given data on supply and demand for the whole market and are being asked what effect that has on you as a small part of that market. You want to identify the possible change in market equilibrium price, and possible change in market equilibrium quantity based on the shifts in demand and supply and adjust your own price and quantity to match the market.
(Part B) Now, suppose that the following changes in demand and supply occur: (1) a substitute good goes up in price and (2) the number of suppliers decrease. What decisions will you make regarding production levels and pricing for your Widget facility based ONLY on these changes, for example, do not factor in the changes in part (a) here?
According to this line of reasoning, education is then "consumed" by house holds. Construct a circular-flow diagram like the one found in this chapter to represent the sector of the economy devoted to collage education.
Explain two effects of an adverse technological shock on the labor market and on the output market - explain two effects of an adverse technological shock on the labor market and on the output market.
Explain why do economists attempting to forecast short run future changes in real GDP and employment look closely at information on business inventories and unfilled orders?
In the United States, the "people" are supposed to rule. However, the "people" are divided into many different groups, based on religion, geography, gender, age, and so forth. To what degree do racial, ethnic, regional, and other identities shape ..
Most Social Security recipients do not currently pay federal or state income takes on their benefits. Assume the government proposes to tax these profits at same rate as other types of income.
1. Describe the environment in which you feel the safest and why? 2. What concerns do you have? 3. What malicious software do you worry about the most?
Federal budget and relate it to standards of living in an exploration of fiscal policy. You are asked to post and defend your view on whether fiscal policy should be expansionary, contractionary, or neutral right now.
Which of the FCAPS models, in your view, is the most difficult to design and implement in a network, and why?
Make sure to comprise a history of the company or industry or the market in which it operates.
Open the Main Menu form in Design view. Add three buttons below the Forms label that will open the three forms in the database: Enter Customers, Enter Employees, and Enter Suppliers (in that order and to show all records).
Draw a diagram describing autarky and a pattern of comparative advantage for your example.
List the determinants of supply and demand. Read the problem and ask yourself if each determinant has changed. Draw the formula (boxes) and fill in the blanks.
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