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Suppose that the most popular car dealer in your area sells 10 percent of all vehicles. If all other car dealers sell either the same number of vehicles or fewer, what is the largest value that the Herfindahl index could possibly take for car dealers in your area?
Consumer Sovereignty & Dollar Votes guide the market system in dealing with which fundamental question a) What will be produced b) How is the output to be produced c) How can the system accomodate change d) Why is to recieve the output
Three machines are employed in isolated area. They each produce 2,000 units of output per month, the first requiring $20,000 in raw materials, the second $25,000, and third $28,000.
The nation of Aquilonia has decided to end its policy of not trading with the rest of the world. When it ends its trade restrictions, it discovers that it is importing rice, exporting steel, and neither importing nor exporting TVs. We can conclude..
Assume your elasticity of demand for your parking lot spaces is -.05, and price is $20/day. If your MC is zero, and your capacity at 9 a.m. is 96% full over the last month, are you optimizing?
The school of economic thought which argues that through tax reductions, and deregulation, government creates the proper incentives for the private sector to increase aggregate supply is known as the.
Test the null hypothesis that each individual coefficient is equal to zero against the alternative that it is not, at the 5% significance level and comment on your findings
What is the profit maximizing level of output for this monopolist? What price will the firm charge? What profit will the firm earn and what are your answers to (a) if average consumer income is $30,000?
Explain what could happen in the future with each of these trends below and come up with three(3) more trends not listed and do the same analysis for your three additions.
According to scientific nutritional studies in most nations, income of $1 a day does not provide sufficient food, shelter and clothing to live. Under these situations the medical risk of death is high.
Changes in price do not always impact demand to the same degree, and in some cases change in price impact demand very little. Such goods are said to have relatively inelastic demand.
Honda uses flexible plans in the manufacturing of its cars. Discuss whether this method of production results in optimum output.
Identify as the need for organisations to develop their services offerings and discuss how organisations design and build services to attract new and existing customers to buy their services.
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