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1. Which of the following statements is positive, which is normative, and which can be tested?
a. Canada should cut its imports.
b. China is Canada's largest trading partner.
c. If the price of gasoline rises, people will drive less and use less gasoline.
How do real-world compaines price their products? Please include examples of strategies from a microeconomics perspective. The response must be typed.
What is the unemployment rate Will a high unemployment rate cause deflation What is the current structure of the labor market How does the current structure affect the threat of cost push inflation or deflation
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A monopoly produces widgets at a marginal cost of $8 per unit and zero fixed costs. It faces an inverse demand function given by P = 38 ? Q. Suppose fixed costs rise to $200. What will happen in the market?
Prepare a conclusion that explains what you learned about the topic and what conclusion you draw from your research on the topic.
Alexander studies away from home. While at school, he spends all his income on air travel and economics textbooks. In a diagram with air-travel as the x-axis good, as pair increases while ptext remains unchanged, Alexander's price consumption path..
What is the role of models in economic analysis? How can it be determined if the assumptions underlying the design of an economic model are overly simplified.
To solve the congestion problems of the big cities, Congress decides to increase the Federal gasoline tax by 25 c per gallon, with a rebate to largely rural.
What input combination should it choose to minimize its total cost given that w = r = $10? What is the total cost of producing 100 units of output?
How do ethical issues impact organizations and operations? Include an example seen in the workplace, in the news, etc. that relates to real-life situations.
Two points on a standard indifference curve are 8 cookies and 2 brownies, and 6 cookies and 4 brownies. Which of the following combinations of cookies and brownies could lie on this indifference curve
A country has the per-worker production function yt = 5k^{^{.5}}t , where yt is output per worker and k t is the capital-labor ratio. The depreciation rate is 0.2 and the population growth rate is 0.05. The saving function is St = 0.2Yt , where St is..
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