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The cost of transporting goods and the price of obtaining information has decreased substantially over the past 100 years. Will this make markets in the USA more or less competitive than 100 years ago? Why or why not?
1. using a prisoners dilemma game such as the wedding game. explain how a positional arms race can occur. in your
Jay's Silk Printing Co. is located in a small university town. The major portion of their business is custom printed sweatshirts for university bookstores. As a sideline, they also retail sweatshirts locally. The local demand for sweatshirts is: Q..
Assuming the company will remain a "going concern" indefinitely and that the interest rate will remain constant at 10 percent, at what constant rate does the owner believe that profits will grow?
The "crowding-out effect" suggests that A. excessive population in the cities is pushing people into the suburbs.B. if consumption spending increases investment spending must decrease. C. tax increases are paid primarily out of saving and, therefore,..
Greetings Corporation stores, as well as the Wall Décor division, have enjoyed healthy profitability during the past 2-years. Although profit margin on prints is often thin, volume of print sales has been substantial enough to generate 15 percent of ..
Suppose a freeze in Florida destroys part of the Florida orange crop. a. Explain what happens to the price of oranges and the marginal product of orange pickers as a result of the freeze.
Consider a $500,000 initial investment, annual savings of $92,500 for a 10-year period, a salvage value of $50,000, and a 10 % MARR applies. Using a spider plot, examine how sensitive the annual worth for the investment is to errors in estimating ..
It has often been said that craft unions (electricians, carpenters, etc.) possess considerably greater power to raise wages than do industrial unions (automobile workers, steel workers, etc.) How would you explain this phenomenon in terms of deman..
The basic economic argument for greater income equality is that: an equal distribution of income is the logical outcome of any tax-transfer program. because citizens enjoy political equality, they are also entitled to economic equality.
1 illustrate the following incidents with supply and demand graphs indicating the change in equilibrium price and
Suppose that a firm"s production function is q = 9X1/2 in the short run, where there are fixed costs of $1000, and x is the variable input whose cost is $4000per unit. What is the total cost of producing a level of output q? In other words, identify ..
Suppose that Jeffs friend Warren has an idea for product improvement at his firm but he is concerned that the idea may already be patented. If indeed the improvement is already patented, the firm holding the patent may sue Warren for infringing th..
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