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Why do you suppose that economists might sometimes disagree about whether to classify as a microeconomic or macroeconomic endeavor the application of big data analytics to massive volumes of information encompassing virtually all of a nation's industries and interactions among those industries?
You know from data collected on the Widget Market that market demand and market supply have both increased recently. As manager of the facility, what decisions should you make regarding production levels and pricing for your Widget facility?
How is game theory relevant to oligopoly? Does it help to explain monopoly? Provide specific examples to support your answer. Are government policies subject to game theory by leaders of organizations? Provide specific examples to support your answer..
What are predicted structural effects that take place when a base substitution which prevents post-transcriptional removal of an intron?
Less-developed Countries (LCDs) are caught in a vicious circle of poverty. For output to increase, they must build up capital. To build up capital, they must save and consume less that what they are producing. However, because they ate poor, they hav..
For each of the following, describe some of the potential opportunity costs:
Can you think that globalization has taken the wrong course? Could you have taken a better course? How is that? Explain what the world would be like if globaliz
In your opinion, based on your thinking as a health care administrator, how will economics continue to play a large part in healthcare organizations?
What are the components of aggregate expenditure? In the model developed in this chapter, which components vary with changes in the level of real GDP? What determines the slope of the aggregate expenditure line?
Are preferential trading agreements welfare improving? What factors determine the welfare changes of such agreement?
Suppose you read in an industry publication that the Rothschild index for the petroleum industry is 0.88. Based on past experience, you know that the price elasticity of demand for the petroleum products sold by your firm is ?1.5.
Suppose that Elsa's preferences over baskets containing gasoline (good x), and food (good y), are described by the utility function U (x; y) = xy + 100y. The marginal utilities for this function are, MUx = y and MUy = x + 100: Use Px to represent the..
What is the inverse demand function? What are the best response functions? Write them in terms of Q1, Q2, MC1 and MC2.
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