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Both industrial unions and craft unions attempt to raise their members' wages, but each goes about it differently. Explain the difference in approaches and describe the impact these differences have
Discuss the two keys that enable a monopoly or monopolistic competitor to successfully price discriminate? Give three real world examples of price discrimination practices that some companies follow
Write an explanation for an interrogatory senator outlining how your expansionary acts would operate and what would be the effects on the economy?
For each level of output, calculate the variable cost (VC). For each level of output except zero output, calculate the average variable cost (AVC), average total cost (ATC), and average fixed cost (
Describe the economic impacts of the trend toward monoculture in agriculture.
Determine the point price elasticity of demand for Tweetie Sweeties. Determine the point advertising elasticity of demand. What interpretation would you give to the exponent of N?
The process of determining the output level that maximizes profits in the short run can also be made by an analysis of the unit cost and revenue functions.
Given the production function: q= 72x+15x2-x3 where Q= output and x= input. What is the Marginal Product (MP) when X = 8?
Analyze and explain in detail using graphical tools to show what you expect to happen to the number of firms and firm profitability in the short run and long run a) if demand for the product falls a
Explain why purchasing power parity measures of income levels tend to show a smaller difference between poor and rich countries
Considering the determinants of productivity, list and explain some things that would tend to prohibit or limit a poor country's ability to catch up with the rich ones
Explain: (a) In what way the U.S trucking industry exemplified the capture theory hypothesis of government regulation prior to the. ... the capture theory hypothesis of government regulation prior t
What do you think causes changes in each of the expenditure (spending) components of GDP thereby causing changes in our economy's output, employment, and income levels?
Write out the formula for the Price Elasticity of Demand. Now, given the following market demand schedule, calculate the Price Elasticity of Demand using the midpoint method, for both gaps,
What impact does the dollar appreciation have on the firm's international competitiveness?
What considerations come into play when considering whether the United States or any other political entity is spending the right amount for environmental quality improvements?
What is the economic rationale behind a patent? Why may the effective patent life of a drug be shorter than the legal life?
in seeking to explain what determines GDP, monetarists focus on the money supplly while keynesians focus on the spending components of total planned expenditures.
A firm has fixed costs of $4,000. Its short-run production function is y = 4 , where x is the amount of variable factor it uses. The price of the variable factor is $4,000 per unit. Where y is the a
African countries, such as Botswana. Describe the effects of HIV/AIDS on the economies of these countries. Make sure you discuss the sources of economic growth and the use of scarce resources.
Marginal revenue product equals:
The fact that the cross-price elasticity of natural gas with respect to the price of fuel oil is 0.4 implies that
Appalachian Coal Mining believes that it can increase labor productivity and, therefore, net revenue by reducing air pollution in its mines. It estimates that the marginal cost function for reducing
Estimate how much the money supply will increase in response to a new cash deposit of $500 by completing the accompanying table.
Based on the the US department of justice merger guidelines, do you think the Justice Department is likely to challenge the proposed merger?