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List one external force from each broad category of external forces. Explain in detail how each of these forces influences the auto industry, and propose how the auto industry should respond or react to each force.Businesses not only respond and react to external forces, but can also attempt to influence them. Describe in detail what the auto industry can take to influence each of the external forces.
A nation has a fixed amount of Capital and Labor which lies on aggregate isoquant when all inputs are being used efficiently.
Among the problems that hinder growth in developing economies are poor infrastructure, lack of financial institutions and a sound money supply, a low saving rate, poor capital base, and lack of foreign exchange. Explain how these problems are inte..
A firm has two prodcuts and two customers. Customer 1 is willing to pay $9 for Product A and $4 for PRoduct B. Customer 2 is willing to pay $7 for Product A and $5 for Product B.
If the economy is at point C, what is the cost of one more automobile? One more rocket? Explain how the production possibilities curve reflects the law of increasing opportunities costs
What are the current implications of high energy costs in the information sector and what is the potential significance of using cloud computing technologies to lower energy consumption?
Is the main outcome of economics (high standard of living) the only relevant question in the realm of economic analysis? Do you agree? Is quality of life also significant?
Identify who has the absolute advantage in painting rooms? Who has the absolute advantage in installing windows? Briefly explain how you derived your answer.
How much of each good does each consumer demand in equilibrium and what is the marginal rate of substitution for consumer A at the competitive equilibrium?
When a single seller is confronted in a market by many small buyers, monopsony power enables the buyers to obtain lower prices than those that would prevail in a competitive markets.
Assume you ran the only bakery in town. Further suppose that it was currently very profitable. A. What things might you consider if you wanted to ensure that you continued to enjoy the same success in the future?
Determine the profit maximizing output?
If the nominal GDP is $559 billion in the base year, and it rises to 577 in year 1, and 605 in year 2, what is the real GDP in each year, given that the price index has risen from 100 in the base year to 104.5 in Year 1 and up to 108.3 in Year 2?
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