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1. Which group has the ability to influence business behavior?
a. Consumers.
b. Community activists.
c. Workers.
d. All of the above.
2. Firms that have market power:
a. behave competitively.
b. have some control over the market price.
c. create a more equitable distribution of income.
3. The social contract that a business has with society:
a. Is legally binding.
b. Is required by the government.
c. Suggests that businesses have a moral obligation to benefit other stakeholder groups.
4. Monopoly violates which assumptions of the competitive market model?
a. That consumers have choice.
b. That firms have little or no pricing power.
c. That entry by new firms is relatively easy.
Consider the market for leather shoes. If producers believe the price of leather shoes will increasae next month, today
What factors are considered in calculation of the CPI? Explain your answer and provide a reference. Where would you find data on CPI and PPI for the U.S.? What does the current level of inflation tell you about the state of the U.S. economy?
Who sells permits and Explain how many do y sell. Who buys permits and Explain how many do y buy. Briefly explain why sellers and buyers are each willing to do so. Illustrate what is total cost of pollution reduction in this situation.
Which approach to motivation would you apply to encourage female associates in your firm to "self-promote" more actively. Explain your choice of approach.
A restaurant/bar is analyzing its pricing of beer. It has determined that the price elasticity of demand for beer is ?0.8; the cross-price elasticity for wine with respect to the price of beer is 0.9; the cross-price elasticity for appetizers is -1.4..
If the price elasticity of demand in the United States for American-made luxury cars is 1.9, what is the impact on revenue if the price increases by 10%?
Use Excel's regression option to perform the regression. Use one Excel spreadsheet file for the calculations and explanations, with one worksheet per problem. Use the problem number for each worksheet name. Cells should contain the formulas (i.e., if..
There are many programs currently in use today that advocate the prevention of delinquency in youth. In a 1-2 page paper identify at least two such prevention programs and describe the strategy each uses to further the cause of preventing these crimi..
The firm must pay a fi xed cost of $80 if it produces any positive amount, but does not have to pay this cost if it produces no output. Illustrate what is the smallest integer price that would make a firm willing to produce a positive amount.
The two economies are so far apart that they don't share ideas and each evolves as a separate roomer economy.
Elm Industries receives profits from polluting according to the formula: pi =10Q−Q^2 where Q = pollution emitted (in tons), and profits are measured in dollars. The damages associated with pollution from this facility are estimated to be: D=Q^2 +2Q. ..
Find hourly wage rate of Home's economy.
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