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Identify an organization and recommend methods to reduce costs. What effects do technologies have on costs? What are some lower-cost sources the organization can utilize to reduce costs?
Discuss ways firms establish barriers to entry and explain how they benefit firms but not consumers. Give an example of a law or regulation that limits the ability of firms to establish barriers to
Describe the relationship between technology, productivity, and costs. How has your firm used technology? What was the impact on productivity, costs, and profits?
What are the implications of operating in the short run and the long run? As your business grows, how must you consider the issues regarding diminishing marginal returns and economies of scale?
If the public's demand for US currency increased by $100 Million what action in the "open market" would the Fed have to take to prevent bank reserves from falling?
Assuming that American imports of wine are a small part of total world wine production, draw a graph for the U.S. market for wine under free trade. Identify consumer surplus, producer surplus, and t
Discuss the limitations of the U.S. "supply side" policy in the war on drugs. Can we win the war on drugs? explain your position on legalization. Why does prohibitionism policy by gov. lead to a) an
Examine the effects of a change in the money supply in an open economy under a flexible exchange rate system. How are your conclusion affected by the adoption of a fixed exchange rate?
In 1996, several cows in Great Britain came down with "mad cow disease". As a result, the countries of the European union banned the import of British beef. The result was higher beef prices in Cont
Task: Use demand and supply analysis with this statement: The economy is doing well in 2000. Income was rising and the stock market hit new record highs. As a result, the price of housing rose.
Show how an increase in personal and federal income taxes ultimately affects the Bank of Canada's balance sheet.
Task: For the following questions, answer True (T), False (F) or Uncertain (U). Please briefly explain your answer. 1. Exchange rate overshooting explains why permanent government spending increases
An economist has estimated that, at the current price of $1.25 per pill, the own price elasticity of demand for the drug is -2.5. Based on this information, what can you do to boost profits? Explain
Describe the three main factors that determine aggregate money demand. Illustrate, with examples, how changes in these factors alter aggregate money demand.
The demand curve for French plutonium shifts outward, at about the same time as the appearance of the foreign-exchange dollars. What happens to the demand for French Francs?
a. How much output will this firm produce ? b. How much profit (or loss) is this firm making in the short run ? c. What is the value of average fixed cost at this profit-maximizing output?
After a country's (not USA) foreign-capital flows are frozen, a large international supply of USD dollars shows up. What happens to the quantity of USD dollars demanded?
If I started with one equilibrium p* and went to another p* that had a higher price for X1, could the second p* be an equilibrium (using a Slutsky decomposition and keeping in mind the inferiority i
a. Find the new equilibrium prices to bus riders and to bus companies, the new equilibrium quantity and total tax payments in dollars to the state government (Remember: Ps=Pb-T). b. What is the dead
a. Find the equilibrium price/quantity combination b. How much in total is spent on broccoli? c. What is consumer surplus in dollars at this equilibrium?
Other things equal, we would expect the labor demand curve of a monopolistic seller to:
Explain why the Fed must normally add reserves to the banking system via open market operations on most days in order to maintain its interest rate target in the Fed Funds market.
(A) Briefly explain why capital is the fixed factor in the short run, and not labor. (B) Then describe (1) a business or industry where the long run is a relatively short or brief period of time and
Problem: A shortage of OPEC oil raises oil prices because of: A) the law of elastic supply. B) the law of elastic demand. C) the downward-sloping demand curve. D) all of the above. E) none of the abov
The government levies an excise tax of 5 cents per unit sold on the sellers in a competitive industry. Both supply and demand curves have some elasticity with respect to price. This tax means that t