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In developing a vaccine for the SARS virus a pharmaceutical company incurs a very high fixed cost. The marginal cost of delivering the vaccine to patients, however, is negligible (consider it to be
A clear thesis statement An annotated bibliography for at least 10 scholarly or professional journal articles A summary that expresses the overall plan of the paper, including subtitles and topic sent
What is the difference between customer satisfaction and customer loyalty? Why is it important to distinguish between these two concepts?
Mcdonalds spends millions of dollars each year on legal protection of it's brand name, thereby preventing any unathorzed use of it. Explain what information this conveys to you as a customer about t
A current database in education is whether teachers should be paid on a standard pay scale based solely upon their years of training and teaching experience, or whether part of their salary should b
Suppose that Frank is considering giving Mike eight paper back books in exchange for 2 CDs. Explain the conditions under which this trade would be mutually beneficial. Also explain the conditions un
Additional projected costs are $1,000 for insurance and $3.20 per unit for materials and supplies. Their fruit smoothies would be priced at $5 per unit. A.) What is the accounting cost function for
discuss the major barriers to entry into an industry.explain how each barrier can foster either monopoly or oligopoly.which barriers , if any do you feel give rise to monopoly that is socially justi
For those 50 or older, membership in AARP, formerly known as the American Association of Retired Persons, brings numerous discounts for health insurance, hotels, auto rentals, shopping, travel plann
Office building maintenance plans call for the stripping, waxing, and buffing of ceramic floor tiles. This work is contracted out to maintenance firms, and both technology and labor requirements are
Use examples both numerical and explanations to make your case. Give an example of a real world situation where two or more firms in a certain industry would be better off if they came together and
Under free trade, Argentina exports beef. Its government imposes a tax t on exports. Draw and label a diagram to show what happens to Argentine beef consumption, production, exports, domestic prices
explain a diagram for an industry in a developing country where infant industry protection might be a good idea. What are arguments for and against governments in developing countries giving infant
Susan was given 2 packs of bubble gum and 30 hats, and Cathy was given 8 packs of bubble gum and 10 hats. Susan and Cathy derive utility from hats and bubble gum from the following utility functions
What do economists mean when they say that "price floors and ceilings stifle the rationing function of prices and distort resource allocation" Use the ideas of consumer surplus and producer surplus
Suppose that initially the price is $50 in a perfectly competitive market. Firms are making zero economic profits. Then the market demand shrinks permanently and some firms leave the industry and th
A Business Week table ("The High Price of Admission," October 23, 2006, 60) compares various business schools by calculating how long it takes to break even on a student's investment in a Masters of
The Hull Petroleum Company and Inverted V are retail gasoline franchises that compete in a local market to sell gasoline to consumers. Hull and Inverted V are located across the street from one anot
Suppose a furniture manufacturer is producing in the short run (with its existing plant and equipment). The manufacturer has observed the following levels of production corresponding to different nu
The postal service carrier works on Sunday delivering special high-priority letters. She can deliver 15 letters per hour. The hourly fixed costs (vehicle depreciation, insurance, etc.) equal $42, an
Think about a firm that you have done business with recently. What industry does this firm belong to For example, McDonald's is a firm in the fast food industry. What market structure would this ind
Companies are interested in acquiring other firms even when the latter operate in totally unrelated realms of business. For instancce, Highways Industries manufacturing asphalt materials for road co
five firms supplied amateur color film in the United States: Kodak, Fuji, Konica, Agfa, and 3M. From a technical viewpoint, there was little difference in the quality of color film produced by these
A few years ago, a construction manager earning $70,000 per year working for a regional home builder decided to open his own home building company. He took $100,000 out of one of his investment acco
The Solis Company has estimated the demand curve for its product is represented by the equation: where is the quantity sold per year and is the price per unit. (a) Based on the estimated demand curve,