1. The actress Betty White will probably die soon. What effect does this have on the market for Betty White memorabilia today?

(A) Supply increases.

(B) Supply decreases.

(C) Demand increases.

(D) Demand decreases.

Which of the following is the best example of inductive thinking?

(A) A mathematical proof of the Pythagorean Theorem.

(B) "All dogs are mammals. Tony is a dog. Therefore, Tony is a mammal."

(C) I hate Mondays.

(D) I asked around, and Brock University is where all the beauties are.

59. Consider the following argument:

Big Chungus is a fat rabbit. All fat rabbits can fly and shoot laser beams

from their eyes. Therefore, Big Chungus can fly. How would you categorize this argument?

(A) It is logically valid and logically sound.

(B) It is neither logically valid nor logically sound.

(C) It is logically sound but not logically valid.

(D) It is logically valid but not logically sound.

A perfectly elastic demand curve has a price elasticity of demand of:

(A) ∞

(B) 1

(C) 0

(D) 101.345

I NEED PLEASE ENVIRONMENTAL ANALYSIS IN UBER MARKETING PLAN THE PLACE IS CYPRUSS MAGUSA (FACULTY , MARKET)

I. ENVIRONMENTAL ANALYSIS THAT CONCLUDE JUST

Competitive forces

explain how Emirates Airlines have dealt with COVID-19 to maintain their customer relationships?

Explain the following :

1. Short run tradeoff (negative relationship) between unemployment & inflation.
2. policy is not efficient in the LR.
3. Money supply curve is vertical.
4. Expenditure multiplier + Tax multiplier = 1.

1. One of the largest changes in the economy over the past several decades is that technological advances have reduced the cost of making computers.
2. 1. Draw a supply-and-demand diagram to show what happen to price and quantity in the market for computers.
   2. Forty years ago, students used typewriters to prepare papers for their classes; today they used computers. Does that make computers and typewriters complements or substitutes? Use a supply-and-demand diagram to show what happen to price and quantity in the market for typewriters. Should typewriter producers have been happy or sad about the technological advance in computers? Give a reason for your answer.
   3. Are computers and software complements or substitutes? Draw a supply-and-demand diagram to show what happen to price and quantity in the market for software. Should software producers have been happy or sad with about the technological advance in computers? Why/why not?
   4. Does this analysis help explain why software producer Bill Gates is one of the world’s richest people?

Brownfield investments have a proven and impactful role to play for underdeveloped and developing countries, in which situations a developed country will welcome brownfield investments in spite of having abundant resources depth?

You have to construct your response by using a developed country as a case in focus.

Critically analyze the possible implications of primary cultural attributes of a country for its import business practices. Furthermore will there be any difference among such implications for a developed country VS an under developed country?

Digital tracking systems are currently legal. Should they remain so? Why or why not? Are digital tracking systems ethical? Why or why not?

1. Why do economists consider perfect competition to be the most efficient market structure?

2. Why is diversification recommended for investors?

3. Why is the demand curve for a monopolist downward sloping? How does this affect the monopolist’s behavior?

1. In monopolistic competition, the long-run equilibrium results in zero economic profit of the firms in these industries. The key factor in this is
   a.   differentiated products.
   b.   freedom of entry into and exit from the industry.
   c.   price discrimination.
   d.   brand names.

2. In the long run, a monopolistically competitive industry is characterized by all of the following, except
   a.   an efficient use of resources.
   b.   production that would exhibit lower costs per unit at higher output levels.
   c.   firms producing where price is above marginal cost.
   d.   firms earning zero economic profits.

3. For a perfectly competitive firm in the short run, if the following conditions are true, P = MR = MC > AC, then
   a.   the firm is maximizing profits and is suffering an economic loss.
   b.   the firm is not maximizing profits but is making an economic profit.
   c.   the firm is not maximizing profits and is not making an economic profit.
   d.   the firm is maximizing profits and is making an economic profit.

4. Probably the simplest approach to the problem of oligopolistic interdependence is to
   a.   increase the firm’s advertising outlay considerably.
   b.   ignore the actions of rivals.
   c.   conduct market experiments.
   d.   assume that rivals will pursue a course most detrimental to the firm concerned.

5. Which of the following is concerned with the distribution part of resource allocation?
   a.   An economy decides to produce equal quantities wheat, rice, and clothes.
   b.   An economy decides to use more labor for producing wheat and rice.
   c.   An economy decides to ration 40 percent of its output to low income groups.
   d.   An economy decides to use 25 percent of the available capital for producing clothes.

6. ”Peak” pricing can best be defined as
   a.   raising price to determine elasticity.
   b.   setting price higher when demand is more elastic.
   c.   setting higher prices to reflect higher demand.
   d.   pricing to obtain maximum profit.

1. A profit-maximizing, monopolistically competitive car wash washes 40 cars per day, and its total cost $200 and currently makes an economic profit of $280. In the long run, everything else equal, the
   a.   car wash will wash less than 40 cars per day.
   b.   car wash will charge more than $12 per wash.
   c.   car wash will need to hire new workers to wash more cars.
   d.   car wash will wash more than 50 cars per day.

2. For a competitive firm, if at least some portion of its short-run average cost curve lies below the price of the product, we can conclude that the firm
   a.  is earning zero economic profits.
   b.  is incurring short-run losses.
   c.  is going to shut down.
   d.  is earning a profit at the profit maximizing output level.

3. If stock exchanges did not exist,
   a.   the economy’s resources could be more efficiently allocated among firms.
   b.   the risk to the investor of buying stocks would be much greater.
   c.   investment banks would no longer play a role in handling stocks.
   d.   there would be no organized way for firms to issue stock.

4. A “specialist” is a
   a.   stockbroker who specializes in the “third market.”
   b.   person who works on the floor of the New York Stock Exchange and specializes in certain stocks.
   c.   stockholder who finds buyers and sellers for specific stocks, but also operates outside of specific stock markets.
   d.   stockbroker who operates only in a particular regional stock market.

5. Suppose that we learn that hotels in Los Angeles generally operate with an average vacancy rate of 15 percent (in other words, 85 percent of the hotel rooms are filled with guests). Given this information about excess capacity, we would judge this market to be
   a.  a perfectly competitive market.
   b.  a monopoly.
   c.  a monopolistically competitive market.
   d.  an oligopoly.

6. A monopolistically competitive firm
   a.   is always a retail establishment.
   b.   has more monopoly power in the long run than does a perfectly competitive firm.
   c.   tries to differentiate its product from competitors’ products.
   d.   faces a perfectly elastic demand curve for its product.

Answer True or False to the following questions:

1. An oligopolist who sets the price for the industry is a price leader.

2. Command economies are able to achieve greater allocative efficiency than market economies.

3. Unlimited liability is a distinct advantage of the proprietorship.

4. Game theory is not useful for analyzing perfectly competitive markets.

5. The “invisible hand” refers to the control that government must exercise over a market economy.

Explain the effect of price discrimination on consumer surplus and economic profit