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My impression of the gasoline industry is that there is 1) a wholesale price paid to refiners by gas stations who receive large shipments of gasoline in tanker trucks on (roughly) a daily basis, and 2) a retail price for customers set by individual gas stations, which can change multiple times per day. Some people get upset at mid-day changes in the retail price, arguing that all gasoline purchased from a tanker truck early in the morning at a particular wholesale price should be sold at the same retail price throughout the day (i.e., there should be a constant mark-up over the wholesale price). What defense could be given to support the phenomenon of changing retail prices throughout the day, even if the earlier wholesale price has not changed?
Explain how labour productivity is determined. In your answer address why human capital is considered to be so vital to lifting labour productivity levels.
Illustrate what will be the most likely new equilibrium price level and output.
Johnny B. Good wishes to have $3000 after 3 years in an account that draws 6% nominal interest compounded monthly. How much must he deposit each month, starting
Annual percentage changes in real GDP (economic growth) and compute the shares in real GDP of consumption, investment, government spending, exports and imports. Estimate changes in economic growth and in the component shares.
1. Using the IS-LM model and assuming the central bank conducts monetary policy by directly setting the interest rate for liquid funds in short-term money market, explain the effect on the equilibrium level of aggregate income and the interest rat..
Explain if an organisation that forecast future sales and develops a budget on the basis of these forecasts conducting marketing planning?
Determine the optimal number of plants that the firm should have to take full advantage of the market demand.
Shocks to an economy, such as wars, famines, or the unification of two economies, often generate large flows of workers across borders. What are the short run and long run effects on an economy of a one-time permanent increase in the stock of labor? ..
Discuss the positives and negatives of corporate culture in the competitiveness of a firm. Relate how firms should deal with different corporate cultures in mer
A rightward shift of the long-run aggregate supply curve is caused by
From California to New York, legislative bodies across the United States are considering eliminating or reducing the surcharges that banks impose on noncustomers, who make $14 million in withdrawals from other banks’ ATM machines. what would be the n..
Solve for the equilibrium interest rate. Solve for equilibrium value of consumption and investment.
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