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PRINCIPLES ESSAY
Essay should be 3-4 pages in length, double-spaced. Be sure to include multiple credible references and in-text citations. Select a publicly-held company of your choice that is experiencing a problem or having some kind of an issue. The following should be included along with any other information you believe to relevant:
Why did you choose this company?Give a little background on the company. Include: market structure.What is the problem/issue to be addressed?What is your proposed solution to the problem?What are the possible unintended consequences if your solution were implemented?What will the reader learn after you have addressed the problem?
Create 2 appropriate economic graphs: One showing the current state, the second illustrating what the change would be if your proposed solution were implemented.
The Value of the Marginal Product of Labor Equation is an important equation. Setting aside political considerations, there has been quite a bit of discussion regarding the pay level for fast food restaurants. In two paragraphs, please discuss the ch..
A profit-maximizing business incurs an economic loss of $10,000 per year. Its fixed cost is $15,000 per year. Should it produce or shut down in the short run? Should it stay in the industry or exit in the long run?
Demonstrate how an increase in personal and federal income taxes ultimately affects Bank of Canada's balance sheet.
select one of the following companiesmiddot pepsi-cola companymiddot wal-mart stores inc.middot
Why is there a social cost of monopoly? People in licensed occupations earn about 15 percent higher incomes because consumers pay higher prices to obtain the services of people in licensed occupations. Therefore, licenses create.
Suppose a pizza parlor is interested in increasing total revenue by adjusting its price. Should it raise prices or lower prices? Explain giving concrete examples.
Explain the following to help the committee members understand how markets work: How society manages its scarce resources and benefits from economic interdependence
Many cooks view butter and margarine to be substitutes. If the price of butter rises, then in the market for margarine:
Suppose equilibrium GDP is less than full-employment output and the economy is in a recession. What are the appropriate fiscal policies that would take the economy to full employment level?
Why do you think the FED evaluates the money multiplier when making decisions with regard to the money supply What function does the money supply serve in our economy to influence certain economic variables
Determine whether a permanent increase in the size of the labor force and an improvement in technology, other things held constant, would lead to an increase, a decrease, or no change in long-run aggregate supply
What price does the monopolist charge in each market? How much profit does the firm make? In equilibrium, what is the monopolist's elasticity of demand in each of the two markets?
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