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Why do the United States and many other countries have antitrust laws on the books? What's so harmful about oligopoly that warrants an entire body of law?
Assume also that the price of cigarettes, the income of consumers, and the price of alcohol.
Illustrate what does a point outside construction possibilities frontier indicates.
The sales director for an industrial supplies firm has collected information describing the performance also personal characteristics of 80 members of her sales force.
What is a monopolist? Is the product unique or there are no close substitutes. Discuss What type(s) of decision does the monopolist make about pricing and the quantity of output to offer in the market? Can the monopolist determine the level of output..
The US government has given legal status to some qualified illegal immigrants, white and blue color workers. What is the main economic reason for such a policy? Briefly explain and show it graphically (AD and AS).
Assume the economy has a Cobb-Douglas production and is in a steady state. Calculate the technology growth rate for this economy. What is a the marginal product of capital for this economy
what output level should you operate to maximize profit? What price should you charge? How much will the industry as a whole produce?
If you were the President of a large research-oriented medical school would you want your Board of Directors to invest in cigarette company stocks? Why or why not?
Describe whether each of the following would cause a shift of the aggregate demand curve, a shift of the aggregate supply curve, neither, or both.
A college graduate with a B.S. in Mechanical Engineering expects to earn, on average, $20,000 per year more than an engineer without a B.S. degree. If the graduate expects to work for 35 years, and the cost of the college education is $100,000, what ..
Suppose apples also oranges are substitute. Presume apple growers launch a very successful advertising campaign that convinces consumers apples are a better product.
Mr. Allen views nutella and soda as perfect complements. She always needs two tablespoons of nutella with one tablespoon of soda, U=min{J, 1/2N}. What will her optimal consumption bundle be if the price of soda is $0.25 and the price of nutella is $0..
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