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The forecasted demand for fudge for the next four months is 140, 160, 90, and 70 pounds. What is the recommended production rate if the level strategy is adopted with no back orders or stockouts?
Discuss, using examples and academic references, the statement that perfect competition gives an optimal allocation of resources but that the existence of scale economies may make perfect competition impossible.
Would this additional spending on advertising achieve the effect of deterring Maytag from entering? Should GE pursue this option?
In an up-coming textbook chapter you will learn that wages reflect the productivity of labor. That is, higher productivity brings higher wages, and vice versa. How do the readings in this group cast doubt on this morsel of theory.
What are the possible reasons for the price rise mentioned in the news article? Use demand and supply models to illustrate what has happened in the egg market. Make sure that you clearly state any underlying assumptions in your analysis.
Explain why the cost structure associated with many kinds of information goods and services might imply a market supplied by a small number of large firms. (At the same time, one internet business such as grocery home deliveries have continually s..
Following are observations on the market price and the quantity of good X produced and consumed in three different years: $10 and 100 units, $4 and 57 units, and $8 and 88 units. Can we conclude that the market demand for X slopes upward
The utility function is U = U (X, Y) If the 2nd derivative for both x and y is greater then 0, does that mean the indifference curves are both convex? Explain why or why not.
The exponent of D in the above equation is +0.75. What does this say about the effect of bus fare on the demand for auto travel? Is the demand for auto with respect to auto travel-time elastic or inelastic? Please explain.
Ongoing United States struggles in Iraq and Afghanistan, political unrest in South America, and civil wars in Africa have driven crude oil values up for the last many years.
Analyze the three different money models (the ATM model of demand for cash, the liquidity-preference model, and the dynamic model of money) to determine which model seems most appropriate for explaining the way money works to someone.
Which industry is more highly concentrated: one with a Herfindahl index of 900 or one with a four-firm concentration ratio of 78 percent?Assume that each of the remaining firms controls 1% of the market. How would you describe its market structure?
Describe three ways in which the Federal Reserve can change the money supply.
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