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Recently, a bank was trying to decide what fee to charge for "expedited payments"—payments that the bank would transmit at a faster speed to enable customers to avoid late fees on cable TV bills, electric bills, and the like. To try to determine what fee customers were willing to pay for expedited payments, the bank conducted a survey. It was able to determine that many of the people surveyed already paid fees for expedited payment services that exceeded the maximum fees that they said they were willing to pay.
Analyze how does the bank's finding relates to economists' traditional focus on what people do, rather than what they say they will do.
Now? suppose? that? the ?first ?firm? has? a ?capacity ?of ?2 ?and? the? second? firm? has ?a ?capacity ?of ?4.
Why is off shoring inevitable in some jobs? What jobs are in danger? What jobs are insulated or protected from outsourcing? What can you do to protect your job from being outsourced?
Describe an example of a real-world industry or market that would be considered by economists to be a natural monopoly. What characteristics of the industry make it a monopoly? What is the impact of the monopoly power on its customers?
Minimum wage legislation requires most firms to pay workers no less than the legislated minimum wage per hor. Using marginal productivity theory, explain how a change in the minim wage affects the employment of unskilled workers.
Weekly inverse demand function is P=296-7Q, weekly inverse supply function is P=17+2Q. Find equilibrium price & quantity & solve for consumer & producers surplus. Then tax of $27 per equanimity is collected by supplier, solve for new consumer and sup..
Using the aggregate demand-aggregate supply diagram, explain the impact of an appreciation of the U.S. dollar on the price level and real income in the short run.
goods and services that are not sold in markets such as food produced and consumed at home and some household articles
illustrate what is the prospect cost of producing Toyotas in every nation. Should which information involve your calculation of the inflation rate.
The inflation-free rate (real rate) is 2.3% per year and the inflation rate is 2.03% per year. The effective interest rate (market rate) is therefore
Which of following statements is true of a monopoly firm. Drug companies are engaging in price discrimination, but this might improve global social welfare if it gives more people access to drugs
Do you believe the rise of globalization has caused the outsourcing of manufacturing jobs within the United States, or is this a natural progression due to the technological era we are in?
The German philosopher Immanuel Kant condemned Utilitarianism as an immoral ethical theory mainly because:
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