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Suppose that you are a manager of a firm in a specific industry. Would there anything that government can do through regulations that might reduce competition and enhance your profit? How would you go about obtaining such regulations? (Ignore for the moment the question of the desirability of the act of rent-seeking.)
Is the economy facing an inflationary or a recessionary gap? What fiscal policy can the government implement that might bring the economy back to long run macroeconomic equilibrium? Illustrate with a diagram and explain how the interest rate, real GD..
The widget industry is comprised of six firms of varying sizes. Firm 1 has 35 percent of the market. Firm 2 has 25 percent, and the remaining firms have 10 percent each. What is the Herfindahl-Hirschman index for the widget industry? Based on the U.S..
Your employer decides to institute a new compensation scheme next year. They will pay you $25,000 no matter how much you work. However, since they employ nothing but workers who earn at least double the minimum wage, they will cut wages by 50%. Draw ..
A project is scheduled to last 12 months and cost $1,000,000. At Month 5, the Earned Value (EV) is $200K, the Planned Value (PV) is $400K and the Actual Cost (AC) is $100K. When will it finish and what will it cost at completion? As a CEO, what woul..
Firm A is concerned about the reactions of buyers to the price it sets for its product. Firm B is concerned about the reactions of buyers and its few rivals to the price it sets for its product. Firm C has no control over the price at which its produ..
suppose that the government is debating whether to spend 100 billion today to address climate change. it is estimated
Consider a temporary oil price increase. Using the AD-AS model (with a Keynesian perspective), answer the following questions. In the absence of any policy intervention, what will happen to prices and output over the short- and long-run? Could the Fe..
Comedian Jay leno once took his show to michigan and gave away free tickest so that out-of-work individuals could attend. He later objected when he discovered that someone tried to sell his free ticket on eBay, and eBay subsequently banned the sale o..
Use the "Dirt" model in labor economics to explain how a compensating wage differential works to induce people to take on dirty/dangerous/demeaning jobs. Why does this model imply that people with similar tastes tend to work together?
A competitive, unregulated market would. Utility is the. Externalities
What would happen to unit sales and total revenue of the book store sold a textbook at a lower price? Would this be elastic due to the fact that a college textbook would be a necessity versus a luxury? Also, if that is the case.. Can you please expla..
Draw an example of a monopoly with a linear demand curve and a constant marginal cost curve. Show the profit-maximizing price and output, p* and Q*, and identify the areas of consumer surplus, producer surplus, and deadweight loss. Also show the quan..
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