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1. What role does the law of demand play in economic analysis?
2. If the price of jeans rises and the quantity sold goes up, does the demand curve slope upward? Why or why not?
3. If the prices of most goods are rising by an average of 15 percent per year, but the price of gasoline rises just 10 percent per year, what is happening to the real, or relative, price of gasoline? How do you expect consumers will react?
Explain the difference between a normal good and an inferior good. Would your answers to question 7 change depending on whether this good is a normal or inferior good? Why?
Every corporation has a culture. This culture is influenced by individual and groups of different moral suasions. Research Kholberg's Stages of Moral Development
What is equilibrium price?What is the equilibrium quantity(Q)? Compute the consumer surplus a=384 b=296 c=0 d=112 e=-112 f= none of the above Compute the Consumer Surplus?
Illustrate with a diagram and explain the long-run perfectly competitive equilibrium for the firm and explain and illustrate using a diagram why a monopolist would never produce in the inelastic range of the demand curve.
Discuss any recent purchases you have made and for which you feel that a similar rational seemed to be at work
Suppose the production function is C = L(0.5) x M(0.75), does the production function exhibits increasing returns to scale, decreasing returns to scale or constant returns to scale? Explain your answer.
if an organization decides to hire employees the decision must be made about the compensation method. in addition you
medical schools and hospitals are heavily involved in the training of new physicians. after prospective new physicians
if there is a natural monopolyone firm owns all the natural resources in the production of a good such as owning the
Create a guide to leveraging expatriates. The guide should include four to six (4-6) sources that address benefits and challenges of sending expatriates to other countries.
Your are the chief economic advisor to the King of Terra. The king has observed that while the price of energy has increased 20 percent over the past five years, consumers have actually increased their energy consumption by 10 percent over the sam..
Propose several current and future economic issues confronting and changing the healthcare system. Analyze the significant implications of the issues in question for market efficiency of the healthcare system. Provide a rationale for your response..
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