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What are your thoughts on what the book has to say about advertising? Are ads manipulative? Or, do they also serve other purposes? Think back however many years since the first iPod was introduced to the market. Would you have known you wanted one if you didn’t even know what it was? Why would an industry like the milk industry advertise a commodity product?
The supply curve for portable charcoal grills shifts
The owner's of a small manufacturing concern have hired a manager to run the company with the expectation that he will buy the company after 5 years. Does this contract align the incentives of the new vice president with the profitability goals of th..
Suppose that you own a 25 year old movie theater in Micropolis. It has 6 screens and a concession stand. Across town there is a 7 year old movie theater with 4 IMAX screens and 20 more regular screens. Now that you have looked at these characteristi..
Specify the main economic (not political) drawback of economic integrations among nations? Explain (do so in no more than 40 words).
Production for a product is planned at 5,000 units per week. The standard operation time for one particular operation is 2.45 minutes. The facility operates 40 hours per week. Suppose that there was a fallout of 10% in the operation that proceeds thi..
Suppose a monopolist faces the following demand curve: p=420-4q Marginal cost of production is constant and is $36, and there are no fixed costs. What is the profit maximizing level of output? What profit maximizing price will be charged? How much pr..
Why can it be suggested that the fact that the ratio of skilled labor/unskilled labor has risen in almost all U.S. industries in recent years (and not just in traded goods industries) lends support to the view that increased inequality in the United ..
What is the equilibrium price and quantity? What is the market outcome if the price $2.75? What do you expect to happen? Why? What is the market outcome if the price is $4.25? What do you expect to happen? Why?
The cost leadership approach implicates competing by having a lower cost than one's competitors
Alex wants to measure the nominal GDP of $993 billion in 2008 dollars. From the data he gathered, he knows the deflator for 1998 is 30 and for 2008, it is 74. What was real GDP in 1998?
Consider an economy whose production can be characterized by the following production function: Yt = 2K^5 N^5. Write the production function in per worker terms. Draw a graph of this production function. Introduce a curve that shows the level of inve..
Judged in terms of the mechanisms used to allocate resources, the former USSR was
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