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Now assume that the 2 firms form a cartel and decide to maximize joint profits and crack profits evenly. They agree to each produce half of the profit maximizing quantity. Discuss how much outputs w
Suppose you have $2,000 autonomous consumption and given the $10,000 disposable income did not allow you to save anything. Explain what will be your MPC?
A company makes calendars and sells them for $10 each. Cost per unit is: direct labor $1.20, direct materials $1.50, the variable overhead .90, the variable marketing expense .40.
A monopolist produces at constant marginal cost c = 1 It sells the product in the domestic market, where demand is Qd = 5? Pd, and some foreign markets with total demand Qf = 2?
Carlisle Company has been cited and must spend in the equipment to decrease the stack emissions or face the EPA fines of $18,500 per year.
Discuss what effect would a 10% increase in price of cigarettes due to increased cigarette taxes have on cigarette consumption and consumer spending on the cigarettes?
Suppose that in an election voters are distributed on different positions from 1 to 10 and that instead of having voters distributed uniformly across 10 regions, assume that position 1 has a differe
An ice-cream company has hired two sales persons to run two ice-cream stores on a beach. These two employees will receive a fixed salary regardless of the number of ice creams that they sell and the
Calculate the major economic justifications for state intervention used by mercantilists? Determine the major types of problems with state intervention as they pertain to international political
A less-developed country has a saving rate of 10 percent per year and a population growth rate of 4 percent per year. A developed country has a saving rate of 28 percent and a population growth rate
Is technology the critical driver of globalization? Calculate the nature of this argument conceived by: mercantilism, liberalism, and Marxism?
Recognize two of the beneficiaries of the secondary markets (of the multi-sided network effects) for Windows OS. And recognize the nature of the value of the network effect?
The term "globalization" is increasingly being used in the study of international political economy and international relation. Increasingly, also, there are debates surrounding the definition of th
Determine that you are an investor who wants to invest in a country that has a high gross national income (GNI) per capita. If the following countries would most likely qualify as a prospective cou
On the way home, Jake was involved in an accident that was his fault. Jake drove Amanda's truck to the football bowl game because his car was broken.
Suppose the demand function for scooters is given by the QD = 20,000 - 10P + 0.2I, where P = price of a scooter, and I = average income of consumers. Also, assume the supply function of scooters is
Determine the prices when the firm discriminates among the two consumers. Is this a good strategy, or should the firm charge the same price to both of them?
A typical university football program requires alumni to join one of several booster clubs (each club gets seats in different parts of the stadium) before the person can buy season tickets. What ha
One of them will be paid one year from today and the other will be paid two years from today. Two payments of $1,000 are to be made. Which has the greater present value? Why?
Briefly describe how you would calculate the overall attractiveness of a country as a potential market and/or investment site.
Assume that Ellen has $I to spend on goods x and y: The price of good x is px and the price of good y is p y: Write the Ellen's budget line and draw it. Specify the slope, as well as the vertical a
Calculate the major economic justifications for state intervention used by the mercantilists and determine the major types of problems with state intervention as they pertain to internation
Describe the liberal perspective on markets and the state with precise reference to the Keynes/Hayek debate. Discuss why are the differences among them vital for understanding contemporary internat
Determine what impact does the imposition of a tariff normally have on a nation's terms of trade and volume of trade?
An economy begins in the long-run equilibrium, and then a change in government regulations permits the banks to start paying interest on checking accounts.