Why economists say competitive markets are efficient
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The part, called WISCO, is a component of the company's finished product.
The cellular system has a total capacity of c bits/sec. What is the probability that more users want to use the system than the system can accommodate?
To keep the game relatively simple, assume the life insurance being considered is term life, i.e. insurance without an accumulating investment value.
Given the probability of bad weather on a given day, obtain an expression for the probability that the professor will teach her class on that day.
Use the ideas of consumer surplus and producer surplus to explain why economists say competitive markets are efficient.
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Do you believe consumers do behave rationally? Is so, how do you explain impulse buying, buying as a result of advertising.
Do you think destructive leadership practices are viewed different in different locations?
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