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What are your marginal costs for each customer load level?
If the manager knows the willingness to pay and identity of each consumer, what is the optimal strategy?
Third, how does elasticity effect the firm's control over its price?
Explain how you concluded the firm was monopolistic competitive or an oligopoly.
Real world examples of different types of price discrimination - by age, time, quantity, income.
Consider the utility function and budget constrait given by:
What are the characteristics of the Microsoft Xbox market? What are the advantages and disadvantages of the Console markets?
Calculate the opportunity cost of producing 10 additional tons of rubber in Japan and in Malaysia. Which country has comparative advantage in producing rubber?
Draw a production possibilities frontier for each country. Identify which country has the comparative advantage.
Which jobs should you assign to your roommates to get the most free time overall? Can you imagine a traderelated analogy to this problem?
why would a nation continue to restrict trade on some imported or exported products?
Calculate the opportunity cost of producing one video camera in Germany and in Poland. Which country has a comparative advantage in production of video cameras?
Who has the absolute advantage in production of sweaters? Who has the absolute advantage in the production of wine? How can you tell?
What is the opportunity cost of producing one pound of beef in Brazil? What is the opportunity cost of producing one pound of beef in the United States?
What are the total costs and benefits of this proposed policy? Do you think it will be passed?
Why does the fact that the protests had little to no effect on legislative changes support or contradict the chapter?
What are some alternatives to a first past the post system that might reduce the problem of voting cycles?
How is it possible to bear a cost without realizing it? What are some examples of policies that affect people in ways they may not even be aware of?
To ensure safety and efficacy, the Food and Drug Administration regulates. Who are the more anonymous losers who suffer from strict medical regulations?
Special interests do not oppose regulations in all cases. Why might a large online retailer like Amazon support such a measure?
Interest group are often made up of representatives of competing firms. Why are competitors sometime willing to cooperate in order to form lobbying association?
After a high-profile antitrust case against it, however, company began to lobby heavily. Why does it make financial sense for companies to invest in lobbyists?
What are some possible ways to encourage voter participation and overcome rational ignorance?
What are some reasons people might find acquiring information about politics and voting rational, in contrast to rational ignorance theory?
How does a government agency raise revenue differently from a private company?