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1-Explain why technological progress will, at best, only temporarily allow a perfectly competitive firm to earn an economic profit and what will happen to profit in the long run.
2-If the same technological progress happens to a monopoly what will it do for its profits?
3-Select any company that you will like to work for. Assume that your boss has asked you to analyze the type of market structure your company falls into. Based on what you have studied, what would you tell him/her and what information would you use to support your answer?
4- The Organization of Petroleum Exporting Countries (OPEC) is an international cartel of a group of large oil exporting countries. It tries to control the price by keeping a check on the amount of crude oil produced by its member states. Is its effect on the crude oil market a harmful or a desirable act?
Purpose of this course is to improve your economic decision making and increase your productivity as an employee or entrepreneur.
What is the best method of note taking in preparing for finals?
Explain the elasticity of demand of a kinked demand curve. Why will a monopolist choose not to produce in the inelastic range of its demand curve?
Complete the Supply and Demand Simulation
Write a small research paper (critique) about 3 pages double spaces where the main focus is Cost Functions (Model of Short-Run Cost Functions) in the paper include some examples
Suppose, unfortunately, your mathematics and economics professor have decided to give tests 2 days from now and you can only spend a total of 12 hours studying for both exams. After some thought, you conclude that dividing your study time equally bet..
A few years ago, a construction manager earning $70,000 per year working for a regional home builder decided to open his own home building company. He took $100,000 out of one of his investment accounts that had been earning around 6% a year and used..
Which product experiences a larger change in price and which product experiences a larger change in quantity
if elasticity is -2 price is 10 and marginal cost is 8 should you raise or lower price?lower price. since demand
The key endogenous variable in the quantity theory?
The scientific method is more difficult for economists than, say, chemists, because: a-controlled laboratory conditions are more problematic in economics. b-it is difficult to hold other factors that may affect the variables being studied constant in..
Thinking About Thinking
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