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Use your knowledge of the price mechanism to explain why strawberries are cheaper in the summer in the UK than they are in the winter.
Coffee bars have been accused of charging excessive prices and failing to pass. Can you use demand and supply analysis to explain any of these findings?
Use the ideas in the case study to suggest how you might go about making your decision.
Can you suggest why governments might be wary of making the motorist pay the full private and social costs of any journey?
Show the effect of a fall in price of substitute good and an increase on cost of production on the market price.
Beatrice has calculated the fixed costs for the Really Annoying are $15,000 per month. Will profits go up or down as a result of the price cut? By How much?
You are thinking of opening a small copy shop. If you rent three copiers, what daily demand for copies will allow you to break even?
In the Stackelberg model, the firm that moves first produces more than it does in Cournot's model. How does moving first reduce the revenue destruction effect?
How do you explain the difference between USA and Brazil in terms of foreign cement producers market shares?
Analyze the various disciplines that contribute to Organisation Behaviour, outlining how these contributions are reflected in an organisation's life circle?
What would you consider to be the potential advantages and disadvantages for these states seeking to move from a command to a market economy?
In the market for vacuum cleaners, how will moving to Malaysia help to shift Dyson's supply curve to the right (increase)?
Explain what is happening to the demand curve for singles? Do you agree with the suggestion that the CD has ‘no future'? Explain your reasoning.
Select a news article dated within the previous two months and analyze the issue using the economic concepts and theory learned in this class.
How do you think the difference in the way judges and legislators are selected affects the way they fashion legal rules?
What does it mean to say that judges decide cases by precedent? Describe the costs and benefits of this method of judicial decision making.
Describe the conditions that must be satisfied in order for the common law to evolve toward efficiency without the conscious help of judges or litigants.
Given the existence of such suits, explain why class actions that bundle small meritorious cases serve an important economic function.
Can you explain why litigants may reveal information voluntarily, even when it is unfavorable to them, in the absence of compulsory disclosure?
Suppose a crime has been committed and a suspect apprehended. Which offer (or offers) results in different treatment of innocent and guilty defendants?
What is the minimum prison sentence the prosecutor will offer as part of a plea bargain if her objective is to maximize the expected value of sentence imposed.
What combination of a fine and prison term is optimal for an offender with wealth of $7,000? (Assume he incurs the same monthly cost of imprisonment.)
Suppose that a drug dealer can earn $1,000 from selling drugs illegally and that the probability. What is the lowest fine that will just deter the drug dealer?
Why might deterrence be enhanced by awarding a share of criminal fines to enforcers? What problems might such a compensation scheme create?
Under what conditions will optimal deterrence be achieved by a policy of sanctioning the employer rather than (or in addition to) the employee?