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a firm that you have done business with recently. What industry does this firm belong to? For example, McDonald's is a firm in the fast food industry. What market structure would this industry fall under? What are the names of other firms in this industry? Is it monopolistic competition, oligopoly, monopoly, or perfect competition? Justify your classification of the firm. Use the characteristics/features of the different market structure to determine which market structure to classify your chosen firm.
The index most widely used by the government and the private sector to measure changes in the cost of living is the GDP deflator or else.
Explain how the short-run Phillips curve, the long-run Phillips curve, the short-run aggregate supply curve, the long-run aggregate supply curve, and the natural rate hypothesis are all related. How do active and passive views of these concepts di..
Suppose that you are on holiday in Russia, when suddenly you are arrested and accused of spying for United States.Your captors tell you that if you confess, you will receive a prison sentence of 2-years,
If there is a constitutional requirement to maintain a balanced budget, then during a recession when tax revenues are shrinking, the government will have to implement
Draw a graph of the market for chewing gum. What are the equilibrium price and quantity? Mark the equilibrium price and quantity in the graph.
How much is the long-run equilibrium price? How many firms will be operating in this equilibrium? Plot two side-by-side graphs to illustrate the long-run equilibrium; one should show a typical firm in equilibiurm, the other should show the market..
What is statistical discrimination and why does it occur, Provide an example of statistical dis-eliminations. Is statistical dionimination likely to persist overtime or will it eventuly disappear. Explain
Plot a graph of GDP per capita against life expectancy for the countries shown. Does your plot con?rm the Pritchett and Summers ?nding?
When you buy a set of speakers, Best Buy asks if you would like to purchase insurance for your speakers. Assume that paying for new speakers for customers who listen to music at a reasonable level (thus minimizing damage) costs, on average, $150, ..
Write about the problem or issue as if you are explaining it to someone who has never taken an economics class.
For each of points 'a', 'b', 'd' and 'e' on the graph, calculate the price elasticity of demand (PED) and state the nature of elasticity (e.g. perfectly inelastic) at that point.
Lindenwood Valley believes the Massachusetts statute violates the U.S. Constitution by denying it due process of law. Lindenwood Valley also claims that the Massachusetts statute should be struck down because it violates the Commerce Clause. The..
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