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What are some real-life examples of monopolistically competitive, oligopoly, and monopoly markets?
Assume, no calls are currently on hold. If agent takes 5 minutes to complete current call, how many callers do you expect to be waiting by that time. Illustrate what is probability that none will be waiting.
State whether each of the following will increase or decrease the attractiveness of going to college and give your reasoning:
Think about a product that you have purchased recently (e.g. soda, diapers, takeout meals, milk, shoes, manicure/pedicure, video game, etc.). Explain how the law of demand affected your purchase. Give specific examples of how the determinants of dema..
Suppose there are two firms, Boors and Cudweiser, each selling identical-tasting nonalcoholic beer. Consumers of this beer have no brand loyalty so market demand can be expressed as P = 5 − .001(Qb + Qc). Boors operates with out-of-date technology an..
Suppose that some foreign countries begin to subsidize investment by instituting an investment tax credit. What happens to the investment in our small open economy? What happens to our trade balance? What happens to our real exchange rate?
You are an efficiency expert hired by a manufacturing firm that uses capital and labor as inputs. The firm produces and sells a given output and is currently employing 50 workers and 10 machines. During the consulting process, you find out that for t..
The 1990s boom was followed by a recession in 2001. The Fed responded by using the tools of monetary policy. Identify two different monetary policy tools (or “mechanisms”) that the Fed might have used and explain how they work.
Defend the following terms using graphs or equations to illustrate your answers wherever feasible. Portfolio feasible set, efficient portfolio, efficient frontier. Indifference curve, optimal portfolio. Capital Asset Pricing Model (CAPM) Capital Mark..
Which of the following are included in the calculation of this year's GDP? Why? Why not? a) you are babysiting your brother and getting paid by your parents; b) your purchase of used car; c) your buying a bond issued by General Motors; d) your grandm..
Two firms are competing for output. The leader firm knows the market demand to be P=1200-Q with the follower firm demand Q2=400-0.5Q1. Both marginal costs is $200. How much will the leader firm produce?
What economic concept illustrates the fact that at an all-you-can-eat restaurant, one rarely literally eats all the food he/she is physically capable of consuming? Explain.
Provide a definition of Foreign Direct investment (FDI). Provide an example. Why do you think Starbucks originally chose to expand internationally through licensing its format to foreign operators? Define "offshore production." Why do you think it is..
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