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Question: Stan Moneymaker needs 15 gallons of gasoline to top off his automobile's gas tank. If he drives an extra eight miles (round trip) to a gas station on the outskirts of town, Stan can save $0.10 per gallon on the price of gasoline. Suppose gasoline costs $3.90 per gallon and Stan's car gets 25 mpg for in-town driving. Should Stan make the trip to get less expensive gasoline? Each mile that Stan drives creates one pound of carbon dioxide. Each pound of CO2 has a cost impact of $0.02 on the environment. What other factors (cost and otherwise) should Stan consider in his decision making?
Describe the role that anthropologists play in migration and include (3) relevant examples. Describe (2) key differentiators and provide (2) examples about anthropology compared with disciplines.
Explain the predicted impact, other things equal, on the terms of trade of developing countries of relatively slow growth in demand for developing countries goods by developed countries combined with relatively rapid growth in demand by developing..
Write down the household's utility maximization problem subject to the present value budget constraint. Show that it is optimal for the household to choose c and c′ such that
Consider a competitive industry with a large number of firms, all of which have identical cost functions c(y)=y2+1 for y>0 and c(0)=0. Suppose that initially the demand curve for this industry is by D(p)=52-p.
Explain oligopoly and perfect competition market structures, and identify the key factors that distinguish them - Choose an industry from your home country representing oligopoly.
The six key dimensions of strategic leadership, compare GM's CEO, Roger Smith with Southwest's Herb Kelleher and Colleen Barrett - Compare and contrast the leadership styles.Which do you prefer and why?
If producing a good or service creates pollution, then
Many people give to charity and leave tips. What prediction does utility theory make about each of these activities? Think of the person's narrow self-interest.
Presume that the firms in an oligopolistic market engage in a price war and as a result, all firms earn lower profits. Game theory would explain this as what?
why does a firm in a competitive industry charge the market price?a. if a firm charges less than the market price it
What are the market equilibrium price and quantity demanded for smoodie in the long run? Do firms make economic profit or incur a loss? Explain why. Also, what will be the number of firms producing smoodie in the long run?
The Marketplace section of the Wall Street Journal is a good place to look for information re- lated to externalities. On a given day, see how many sto- ries you can find that deal with externalities-positive or negative. Are businesses taking ste..
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