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1. Describe each of the four properties of indifference curves.
2. describe and explain the budge constraint. How does a consumer maximize utility under a given budget constratin? How do consumers know if they are not maximizing utility?
3. Explain what is meant by "asymmetric info" Identify and explain the two basic types of problems that arise when their is assymetric info.
4. Explain the condorcet Paradox, the failure of majority rule to produce transitive preferences for society. Explain arrows impossibility theorem. What does this say about societies choice?
5. When prices change, the income effect and substituion effect both contribute to the impact on quantities consumed. Explain how both effect a consumers utility maxization.
Proponents of trade liberalization argue that freer trade might actually improve the quality of the environment
Determine to the extent possible the relative market shares of these firms. Discuss the degree of concentration in the industry using CR4, other n-firm concentration ratios, H-H indices, etc.
Summarize the firm's history, its recent and current operating results, and the economic, social, and political forces that affect it most and present a brief SWOT analysis.
Illustrate and fully describe using an example of relevant cost (a cost whose value does affect the optimal decision) and an example of irrelevant cost (a cost whose value does not affect the optimal decision) to the business regarding this decisi..
Students fascinated with your explanation and eager to learn more, ask about the shape of the demand and supply curve in each industry. Provide a demand and supply graph for each industry to explain. Label equilibrium price and quantity.
Describe how each of the following will affect the price and quantity of equilibrium. To find out the new values, describe how the supply and/or demand curves will shift in the following cases (if at all).
Select an organization that has a high fixed cost and low variable cost balance to run its operations. Explain and discuss the balance of fixed and variable costs for the organization.
Many analysts in both developed and developing worlds have heavily criticized the cases of monopolies. Discuss using relevant examples whether it is a good policy for the government to completely eliminate monopoly power.
The government adopts a tax increase and cuts spending to reduce the budget deficit and the government adopts a "fiscal stimulus" by increasing its spending on infrastructure
Suppose A and B choose the amount they spend on the school independently. What is the Nash equilibrium level of the school's quality in Little Society?
Describe three ways in which the Federal Reserve can change the money supply.
ach sales manager then decides how to divide the cars among the independently owned dealerships in the region. Because of high demand for these cars, dealerships all want to receive as many cars as they can from the regional manager.
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