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Question: Do price reductions and quality enhancements on Microsoft products prove that Microsoft is a perfectly competitive firm? What should be the test of competitiveness?
Microeconomics, Economics
Question: You just got a job in Washington, D.C. You move into an apartment with some acquaintances. All your roommates, however, are slackers and do not clean up after themselves. You, on the other hand, can clean faste ...
Question: 1. Suggest two regulations that the Reserve Bank of New Zealand could introduce to reduce the risk of asset price bubbles in the future. 2. Write a note on the prospects for economic growth in New Zealand for t ...
Question: In the graph below, assume that the market demand curve for labor is initially D1. The market supply curve for labor is indicated with figure "S". Wage rate is depicted on the other things held constant vertica ...
Question: In country B, the population is 900 million and 100 million people are living below the poverty line. What is the poverty rate? The response must be typed, single spaced, must be in times new roman font (size 1 ...
Question: In the example from the Exchange Without Production section, construct a different series of trades among the five people and show that it leads to the same equilibrium price and the same allocation of the good ...
Question: A firm in a perfectly competitive market invents a new method of production that lowers its marginal costs. What happens to its output? What happens to the price it charges? a. The firm has an employee who thre ...
Question: Classify the following as consumption, fixed business investment, residential construction, inventory investment, exports, imports, government purchases, intermediate goods, or none of the above. (A) Student pu ...
Question: Suppose inputs are only substitutable at two units of labor for every one unit of capital and one unit of output is produced for every unit of labor or 1/2 unit of capital. What would be the equation for the pr ...
Question: Labor markets are "matching markets," in which prospective employees are ultimately matched with job vacancies, and the quality of the match has a large impact on its productivity. a. Economists and sociologist ...
Question: Go to the library or the Internet and discover some other reason for Wal-Mart's success not mentioned in the chapter. How would you test whether or not that reason is actually responsible? The response must be ...
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