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1. Why markets fail to achieve economic efficiency? Site 3 clear examples
2. Discuss what is imperfect competition and externalities and how each system differs from each other.
3. What causes Monopoly?
Suppose that the residents of Vegopia spend all of their income on cauliflower, broccoli and carrots. In 2017 they buy 100 heads of cauliflower
Assume that rather than buying textbooks for their courses last year, all students decided to buy online access cards at $100 per textbook. Compute the total cost for this basket of goods and the CPI.
Calculate the total amount this patient would owe if the bill for their services is $1,800.
Each one of you is a CEO of an athletic shoe firm in an oligopolistic market. Your job is to maximize the profits of your firm.
q1. assume which a risk-free investment will make three future payments of 100 in one year 100 in two years and 100 in
How Deming, Juran, Crosby, Feigebaum, Ishikawa and Taguchi can be compared in the real life? Can you identify what is similar between the three and what is dissimilar between them? You are to prepare table ( Comprehensive to compare them on various p..
Suppose you are selling t-shirts at your own t-shirt stand. What are the equilibrium price and quantity for t-shirts? If the process of making your t-shirts results in chemical waste that you dump in a nearby stream, creating $5 worth of damage to th..
Suppose Nike's managers were considering expanding into producing sports beverages. Why might the company decide to do this under the Nike brand name? A or B
In what instances have Patagonia attempted to transform its supply chain and the broader industry but did not succeed? Why do you think the company failed?
The manager of a meat-packing plant can use either butchers (labor) or meat saws (capital) to prepare packages of sirloin steak. Based on estimates provided by an efficiency expert, the firm's production function for sirloin steak is given by Q=K+L. ..
You now should realize how important it is for economists to try and predict future conditions of the U.S. economy. Economists are also interested in the performance of the economy at a more local level. Discuss how local and national forecasts play ..
Problem 1: Shelly's preferences for consumption and leisure can be expressed asU(C, L) = (C - 200) * (L - 80). There are 168 hours in the week availableto split between work and leisure. Shelly earns $5 per hour after taxes. She alsoreceives $320 ..
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