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Question 1: Assume that during the last year you have been earning £1000 per month. Inflation has been 2.5%. What are your nominal and your real wages?
Question 2: Suppose expected inflation for next year is 2.5%. If you are currently earning £28,000 a year, what should your nominal wage be next year if you want to keep your real wage constant?
1.what is opportunity cost? explain with the help of an example why assumption of constant opportunity cost is very
Describe each market structure discussed in the course (perfect competition, monopolistic competition, oligopoly, and monopoly) and discuss two of the market characteristics of each market structure.
Simulate order sizes in 50-unit increments from 1,500 coats to 2,500 coats. Determine the order size that appears to maximize expected profit.
Discuss at least two reasons for the trade deficit. Note: Your discussion must be based on positive economic analysis. Avoid interjecting your personal opinion.
Pham can work as many or as few hours as she wants at the college bookstore for $9 per hour. But due to her hectic schedule, she has just 15 hours per week that she can spend working at either the bookstore or at other potential jobs
1. True, False, Explain (Say whether each statement answer is true or false, then explain why. Your grade depends on the quality of your explanation). a. Suppose you estimate the population regression model
What happens in the market for a drug once the patent expires? Why?
question 1 why is cvp analysis generally used as a short run tool? would cvp ever be appropriate as a long run
Discuss/describe the Three-Step Iteration process and how the process may apply to your team's innovation concept generation process that may include.
A deposit of 1000 is planned for the end of each year into an account paying 6% per compounded annually. The deposits were not made in years 8 and 9.
Supposing that when the three firms set the same price they share the market evenly, demonstrate that collusion at the monopoly price is not sustainable, using the Bertrand Nash Equilibrium of marginal cost pricing forever as the punishment strate..
Price Elasticity of Demand facing you in your scenario, including actual calculation of it using the midpoint formula. If you can't find data, then determine the Price Elasticity from the Characteristics and make up numbers to use.
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