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The rising middle class in China means millions more people are taking to the skies. There's a tsunami of retirement which is now under way in the airline industry. Chinese airlines have raised their pay offers to foreign pilots by up to 30% in the past 18 months. Show the effects in the global pilot labor market. Show the shift of supply an/or demand and explain why the curve(s) shifted.
Suppose that the total revenue received by a company selling basketballs is $840 when the price is set at $15 per basketball and $840 when the price is set at $10 per basketball. Without using the midpoint formula, can you tell whether demand is elas..
What institutions are prerequisite for economic growth? What is the role of rule of law in economic development?
Explain what the income eect is. You may use plain English or use an illustrative example. However, you must convince me you know what it is without copying a denition. Repeat the above for the substitution eect.
Why do manufactures like Procter and gamble spend millions of dollars annually creating and maintaining their brands? Why won’t they just manufacture their products and sell them under store brand labels?
A military conflict forces the shut-down of major crude oil pipeline. World oil prices soared to an 18 month high. Show the effects in the crude oil market.
Please make a table in the above form but showing FC (fixed cost), VC (variable cost), AC (average cost), MC (marginal cost), MR (marginal revenue) and find the profit maximizing level of output.
In 1998 real GDP was $4000 billion. Then, in 1999, nominal GDP was $5445 billion, while the general price level increased 10 percent in 1999. Given this information, the percentage change in real GDP from 1998 to 1999 is: A. 10.1% B. 12.5% C. 19.2% D..
What is the definition of "First Best", "Second Best", etc. in contract theory? Especially, what is the difference between "First Best" in contract theory and "ex-post efficient" in mechanism design?
Assuming no government intervention, describe the market behavior that should result if the price of a product is below its equilibrium price; then describe the behavior that should occur if the price is above its equilibrium price.
How is culture of India reflected in idea of sacred cow. Illustrate what influence does this have on arts of India.
Explain the assertion that businesses can lose rights if they do not diligently assess and pursue intellectual property protection.
How much the person should must get? And is it taken from any person who works in US? My country is paralyzed to impose this tax due to oligarchs heavy influence. I just wanted to gain some knowledge.
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