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Are there any types of goods or situations where the law of demand does not hold? Explain with examples.
Come up with five examples of firms that have used imitation as a way of reducing the risk of entry. What aspects of risk was it meant to reduce? Was it successful? What aspects of the firm were not generated by imitation, made the firm unique, and w..
Assume an economy where there are two producers: a wheat producer and a bread producer. In a given year, the wheat producer grows 30 million bushels of wheat of which 25 million bushels are sold to the bread producer at $ 3 per bushel, and 5 million ..
Some banks are beginning to assess transaction fees when customers use human tellers rather than ATMs. What are these banks trying to accomplish?
In the final round of a TV game show, contestants have a chance to increase their current winnings of $1 million to $2 million. If they are wrong, their prize is decreased to $500,000. A contestant thinks his guess will be right 50% of the time. Shou..
Calculate the GDP of this imaginary economy using the product, income and expenditure methods. Explain how these methods deal with the problem of double counting in the calculation of GDP.
q.in a certain city where all parking is controlled by the city it is possible to provide parking facilities in the
Retail stores can be classified in terms of several characteristics. Name four of these
Explain the economic intuition for the condition that determines the optimal rotation period.
A police officer stops a subject based on reasonable suspicion that the subject is about to engage in criminal conduct and has reasonable suspicion that the subject is armed. While conducting a frisk or pat down of the subject, the officer feels an o..
Assume that the slope of the saving function becomes steeper, will this change in the economy, by itself, have the effect of increasing, decreasing, or not changing the size of autonomous spending multipliers (that is, the investment or government sp..
Suppose you are collecting information about these two firms: Jackson Corporation and Allied Industries
Assume that the market for Coca-cola in your area is perfectly competitive, with Demand P= 11-0.1Qd and supply P= 1+ 0.1Qs. Each firm that sells Coca-cola is indentical, with Total Cost TC= 1+0.5Q+2Q? Which gives Marginal Cost MC= 0.5+4Q. Currently t..
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