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Based on last week's lecture regarding the types of values for environmental resources, what kinds of values could a Floridian have for the everglades?
You are to write a paper, convincing the president of the company of your conclusion and explaining what the company's pricing strategy should be.
Explain the factors that will affect demand, supply, and prices of that product.
Define the Federal Funds Rate. What is the current Federal Funds Rate?
Present a thorough analysis of economic growth. What are the factors that contribute to economic growth?
Identify a particular industry (non-government) that meets the criteria for Pure Competition or Monopoly.
Describe how the product has changed in price and explain whether the price change is due to supply or demand.
Using the circular flow diagram, explain a way that your family interacts in the factor market and a way that it interacts in the products market.
Discuss the short run and long run advantages and disadvantages of the bail outs of investment banks and corporations in response to the Great Recession.
How might your elasticity of demand for copying and binding services vary if your work presentation is next week versus in two hours?
What would happen to the equilibrium price and quantity exchanged in the following cases?
What will happen to the quantity of tickets demanded? What will happen to the quantity supplied? Who gains? Who loses?
What would be the impact of a price floor set above the equilibrium price for dairy products? Below the equilibrium price?
What would be the impact of a rental price ceiling set above the equilibrium rental price for apartments? Below the equilibrium rental price?
If a price is above the equilibrium price, explain the forces that bring the market back to the equilibrium price and quantity.
What do you think is causing the shortage? What would you advise the Deputy Parks Commissioner to do in order to alleviate the shortage?
If the price of corn rose. What would be the effect on the supply of corn? What would be the effect on the supply of wheat?
What is the difference between self-interest and selfishness? Why are observation and prediction more difficult in economics than in chemistry?
Using the map analogy from the chapter, talk about the importance of abstraction. How do you abstract when taking notes in class?
The transportation revolution also increased wants. Identify two ways the car and truck revealed new wants.
If holders of ticket stubs have to stand in line for 10 minutes, is the Big Mac really free?
List some things that you need. Then ask yourself if you would still want some of those things if the price were five times higher.
List the factors that affect the possible benefits and costs of this decision. Explain where uncertainty affects the benefits and costs.
Have you made arrangements to leave your organs to your local organ bank? What drawbacks would a free market in organs have?
Throughout history, many countries have chosen the path of autarky choosing to not trade with other countries. Explain why this path would make a country poore.