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Are there measures to protect consumers? Why don't sellers sell only low-quality goods to consumers who are not able to judge quality?
For the particular firm/business you selected,* describe the markets in which your firm participates that are monopolistically competitive.
What are the key elements of the scientific method and how does this method relate to economic principles and laws?
Use your program to calculate the markup and product price. Produce graphs to show how the product price will change as the elasticity of demand changes.
What products other than cars have a model year? Are new models introduced simultaneously or at different times of the year?
What is the current penalty on companies that do not meet the CAFE standard?
Why would you say that the market for higher education is a market with monopolistic competition or a monopoly? How does competition occur in that market?
What do car companies do to provide buyers with assurance over the functioning of the car? Why doesn't this happen in the health-care market?
(Advanced) If you were designing a policy of charging for road use, would you include or exempt taxis?
you were a seller of a used car and you knew it was high quality, would you have an incentive to offer the buyer a warranty on the car?
Car dealers make profits from goods and services that are complementary to the cars they sell. List and discuss some of these complementary products.
Using the equation linking the price of a car to markup and marginal cost, if the markup is 60 percent and marginal cost is $20,000, what is the price?
Is it efficient to build the bridge? Suppose the government asks people what the bridge is worth to them and plans to tax them the amount that they say.
The impact the theory of consumer choice has on: Demand curves-Higher wages.
How many more workers were there at the end of the 10-year period than at the beginning? Next, return to the Detailed Statistics page.
How much of the disagreement is based on normative economics compared to positive economics? Give an example of loaded terminology from each site.
Why must we be cautious in concluding that marriage is the cause and higher income is the effect?
Use graphical analysis of present goods versus future goods to explain the differences in growth rates.
Draw the new production possibilities curve. Now draw a production possibilities curve that reflects technological improvement in the production of both goods.
Explain typical shapes of marginal-benefit and marginal-cost curves. How are curves used to determine optimal allocation of resources to a particular product?
Why is entrepreneurial ability considered a category of economic resource, distinct from labor? What are the major functions of the entrepreneur?
Plot the data in your table as a budget line in a graph. What is the slope of the budget line? What is the opportunity cost of one more candy bar?
What categories do economists use to classify them? Why are resources also called factors of production? Why are they called inputs?
Explain why tradable permits for the right to dump garbage into a river would be more efficient. How is the total quantity of tradable permits determined?
The Bureau of Labor Statistics produces data on labor turnover called JOLTS. How would you explain these findings?