Detail the components of state bureaucracy and the issues surrounding representativeness and responsiveness. Your response should be at least 200 words in length.

What do you think are the three most important qualities or skills a governor needs to possess in order to be successful in that position? Explain why you feel they are the most important. Would these factors be enough to have you vote against your political ideology? Use facts to support your opinion.

Which of the following statements about a firm’s cost structure are correct?

(a) Average cost measures the firm’s cost of producing one additional unit.

(b) Both average costs and average variable costs are always upward sloping.

(c) If marginal cost is above average cost, then average cost is increasing

6. (a) Is it economically fair (i.e., ethical) to buy low and sell high, globally? (b) Provide an example of a business efficiently using this economic principle.

Which of the following statements about the relationship between perfect competition and efficiency is NOT correct?

(a) In the short run, and assuming no other externalities, a perfectly competitive industry achieves allocative efficiency: that is, it produces the quantity which maximizes short-run gains from trade.

(b) In the long run, and assuming no other externalities, a perfectly competitive industry with free entry achieves productive efficiency: that is, output is produced at minimum average cost.

(c) In the long run, a perfectly competitive industry achieves dynamic efficiency: that is, its members invest in developing new products and improving productive technologies at socially optimal rates.

(d) All three statements above are correct.

7. (a) Among the four types of unemployment, identify the economically best type and explain why it’s the best. (b) Identify the economically most costly type of unemployment and explain why it’s the most costly. (c) What type of unemployment are workers most likely to experience after they have earned an MBA degree? Explain.

Cascadia Industries estimates the demand for its product to be:

Qx = 380 - 10Px - 2Py + 3Pz + .1M, where M is income and Py and Pz are the prices of related goods. Py = $15, Pz = $50, and M = $5,000

a. The demand function for Cascadia’s product can be written

Qx = _______________________. The inverse demand function can be written Px=_________________., and marginal revenue is MR = ________________.

b. Cascadia would maximize sales revenues at a price of $_______________, and a quantity of _________________.

Now assume Px = $75

c. The quantity demanded is Q = ____________________.

d. The price elasticity of demand is _______________.

e. The cross-price elasticity of demand between good X and Good Z is Good Z is a ___________ (substitute, complement).

1. How does the coronavirus affect the aggregate demand curve and the equilibrium? Explain in terms of output production and unemployment?

2. What is Fiscal Policy? Identify one item in the $2 Trillion Stimulus Package. How will this affect the aggregate demand curve?

Please answer all.

84. Explain why marginal revenue is less than price for a monopolist.

85.   What are the reasons for preferring competition to monopoly?

Choose only 3 benefits of land being occupied by firms according to the principle of highest and best use (note that most of the options listed below do not arise from highest and best use):

a. Establishment of a working wage

b. Separation of industrial toxins from residential areas

c. Expanding tax base

d. Increased number of jobs

e. Vitality of locally owned businesses

f. Agglomeration

g. Improved community health

h. Greater potential for philanthropy

i. More complex division of labor

j. Situs

k. Balance of corporate businesses with smaller shops

A well-defined brand strategy is significant for firms with expansion goals. Also, a strong brand could be a powerful tool for a competitive edge to large or small companies.

• With this in mind, list four benefits of a strong brand to business organizations.
• We live in an ever-increasing globalized society. Reflect on the challenge of global branding.
• What are the benefits of globalizing a brand?
• What are the unique challenges to this type of branding and in your opinion, which areas of the world pose bigger challenges and why?

The Portfolio Assignment entry should be a minimum of 500 words and not more than 750 words. Use APA citations and references if you use ideas from the readings or other sources. This assignment will be graded by your instructor.

Please answer all.

82. What is the difference between the accountant's concept of profit and the economist's view of profit?

83.   Describe the types of entry barriers which can exist and their importance to the study of monopoly.

4. (a) Are business managers microeconomic or macroeconomic market participants? Explain. (b) Do most business managers have the market power to significantly change market conditions? Explain. (c) Provide an example of a microeconomic event that would affect firms. (d) Provide an example of a macroeconomic event that would affect firms. (e) Explain how a microeconomic view of international trade differs from a macroeconomic view of international trade.