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Discuss some ethical implications for your overall choice of business and strategy (1-2 paragraphs of 4-6 sentences each)
A firm with Monopoly in two markets and the same costs of serving them should charge a higher price in that market with a higher demand.
There has been much discussion over whether marijuana should be legalized for consumption beyondmedical use. Assume that if it becomes legal the price will be cut in half. Given that Frank suggests theestimate of the price elasticity for marijuan..
Even if firms in a monopolistically competitive market collude successfully and fix price, economic profit will still be competed away if there is unrestricted entry. Explain. Will price be higher or lower under such an agreement in long-run equilibr..
The simple deposit multiplier formula calculates that if the required reserve ratio is 10%, then an initial checking account deposit of $10,000 will set in motion a sequence of events that will result in a total increase in checking account deposi..
Develop a strategy for a firm to make sure it’s products always stay a big step ahead of its present competitors and also ahead of anyone else who threatens to come into their markets and compete with it. When you then put the strategy into execution..
What are some explicit costs of going to school? What are some implicit costs of going to school? How do you make the decision to go to school? What is judicial review and why is it such an important power? Examine one instance of judicial review hav..
You are the manager of a firm that produces output in 2 plants. The demand function is P = 120 - 6Q where Q = Q1+Q2. MC associated with producing in 2 plants are MC1=2Q1 and MC2=4Q2. How much output should be produced in plant 1 in order to max profi..
Many people within a country may recognize how social, political, and cultural influences have an impact upon them. At the same time, social, political, and cultural influences may be such a part of daily life that they seem merely “the way things ar..
Consider the following recurrence for a function T that takes on nonnegative values and is defined on integers ≥ 1:T(n) ≤ 5 if 1 ≤ n ≤ 4 or ≤T(7n/10) + T(n/5) + 3n if n > 4. Prove that T(n) is O(n). You should present a particular constant c and ..
A corporation has ten employees, all of whom want a more pleasant work environment. Accordingly, they are considering removing litter from the grounds of plant.
Jamaica is a small open economy that has a trade surplus. Use savings/investment diagrams to answer the following: Suppose the Government of Jamaica decides to raise taxes. How will the equilibrium amount of savings, investment, and trade balance be ..
Model of an Airlines Market American Airlines and United Airlines compete for customers on flights between Chicago and Los Angeles. The total number of passengers flown by these two firms (per quarter), q, is the sum of the number of passengers flown..
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