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What is the CPI (Consumer Price Index) and what significance does it hold in regards to goods and services? Please explain in detail.
Suppose you are an Executive Chef at a private hotel on the beach in Florida, with sixty rooms; a banquet facility serving up to 175; a coffee bar in lounge, which also provide complimentary cold breakfast;
How does the demand curve faced by a perfectly competitive firm differ from the market demand curve in a perfectly competitive market? Explain.
Externalities are third party consequence of some other action. They can be positive or negative externalities and they impose a benefit or cost to a third party.
Explain a political, economic, or social interaction of decision makers that you have heard about in words. The condition should involve decision makers, available actions
Write about the problem or issue as if you are explaining it to someone who has never taken an economics class.
Compute the mean and standard deviation of the damage in any year and determine the expected value of X, E(X), and expected value of Y, E(Y).
Assume that the government decreases spending by one hundred billion dollar. What happens to aggregate demand and discuss the differences between fixed and variable taxes.
What is the machine's payback period? Compute net present value of machine if the cost of capital is 12%. Find out the expected internal rate of return for this machine?
In the aftermath of September 11 terrorist attacks, the quantity of sold airline tickets in 2002 fell by a large percentage when compared to 2001. During the same time period the average price for airling tickets also fell.
Consider the same animation cel auction as in problem 1. If instead you decide to hold a Vickrey Auction, what will person 2's bid be, if he is behaving optimally?
What is the condition that δ has to satisfy in order for the collusion to be sustained in both states and which can be sustained in equilibrium and gives the highest intertemporal profit?
Write down some of the characteristics of perfect competition. Which kinds of industries come closest to perfect competition in the real world?
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