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Imagine of these concepts (markets, elasticity, production, costs, market structures). Take one or two of those concepts and use it to examine and understand economic situations or decisions that you face in you're your company. If you can't apply these concepts to your workplace you may use current news items. I would like you to:
- Illustrate how the economic concepts give a framework for understanding the situations or decisions.
- Use economic concepts (goals, constraints, decision variables) to frame decision making (i.e. market structure will verify what decisions are available to a firm, such as a firm selling commodities largely has no control over price). This will contain understanding what decisions are available (what are the tradeoffs?) and how to use economic concepts to choose between available alternatives to make the most informed decision.
A city has two newspapers. Demand for either paper depends on its own price and the price of its rival. Demand functions for paper A & B respectively, measured in tens of thousands
Suppose that the government is the only provider of water. The market demand function reads D: Q(P) = 50 - 2P. The government''s total cost for producing water are described as fol
Perfectly Inelastic (Zero Elastic) Supply Supply is said to be perfectly inelastic if the quantity supplied is constant at all prices. The supply curve is a vertical straight
Bain''s limit pricing theory advantages and disadvantages
Let consider the economy (above) again where the following set of stocks is traded: x 1 =(2,2,0) x 2 =(1,0,3) x 3 =(0,2,4) for the prices (p 1 , p 2 , p 3 )=(1,
Discuss the full cost pricing and marginal cost pricing method. Explain how the two methods differ from each other.
Consider a model world which is subject to a risk of global climate change. The damage is known to be from greenhouse gas (GHG) emissions as indicated by the marginal damage curve
Compensatory Financing Two other schemes for alleviating the effects of commodity trade instability have been operating for a number of years. These are the IMF's Compensator
A monopolist has two types of customers. There are 100 of Type A, who will every pay up to $10 for a single unit of the good, and 50 of Type B, who will every pay up to $8. Neithe
types of capital budgeting
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