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Is Greed Still Good, Mr Gecko?During 1980's the movie Wall Street seemed to accurately capture themes of the day. Michael Douglas starred in movie as Gordon Gecko - a brilliant, driven and corrupt stock broker. At one point, Gecko utters a famous line, "Greed is Good." To what extent, in capitalism, is greed good? In what sense is greed bad? Can greed be constructive? If so, how?
Suppose demand function has changed t0o Qd2 = 14-P. Find the new equilibrium price and quantity?
Supposing the marginal cost curve is for a competitive industry as a whole, find out the profit-maximizing level of output and price.
Assume the government sets an effective price floor in market for oranges and agrees to buy all oranges that go unsold at that price. The oranges bought by the government are discarded.
The president of your corporation, Mr. daily, has asked you to make a report describing the many forms of market structure. He describe to you that the report will be handed out to staff prior to the staff meeting next week
The technology of a company making high end, solid gold bracelets in Soho (NYC) is explained through the production function;
The demand for housing is often described as being highly cyclical and very sensitive to housing prices and interest rates. Given these characteristics describe the effect of each of the following terms of whether it would increase or decrease the..
Use a demand and supply model to describe the impact of occupational segregation or "crowding" on the relative wage rates and earnings of men & women.
Estimate the linear demand equation
Using the ideas of marginal costs and marginal revenues, describe why economic profits are maximized where marginal revenue equals marginal cost and why profits decline if price is above or below the profit maximizing price.
A country should engage in international trade when the country can give up fewer goods for imported item than is implied by the item's domestic opportunity cost of production.
Aztec Enterprises depends heavily on advertising to sell its products. Management at Aztec is allowed to spend $2 million monthly on advertising, but no more than this amount.
Does it make sense to hold sleep, work, and leisure fixed while changing study? Why or why not? Explain why this model violates the assumption of no perfect collinearity.
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