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    Basic assumptions of Economics

    Economists have generally looked for some’ fundamental assumption” about human behavior from which most of the principles of economics can be ultimately deduced. Every decision-maker in an economic system-whether he is a consumer or producer, whether it is a house hold or a firm- is assumed to have in a rational manner and go in […] More

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    Economics Issues Simulation Paper

    The purpose of a managed care organization is to coordinate the costs and delivery of health care. A managed care organization oversees money spent on labor, technology, and facilities such as physician offices and hospitals. A type of managed care organization is a Health Maintenance Organization (HMO). A HMO “provides medical care for all its […] More

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    Importance of Mathematics and statistics to Economics

    INTRODUCTION Statistics and mathematics are everything to economics. infact statistics and Mathematics, the economic field wouldn’t even exist. Economist need statistics to represent data, to track and store information, to identify trends, to attribute value and mathematics to calculate those figures.The way to look at the relationship between statistics and economics is that economics is […] More

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    Economics and Global Business Applications

    Elasticity of demand is a measure of responsiveness to a price change of a good or service. When demand is elastic, the percentage of a price change of a product will result in a larger percentage of quantity demanded (McConnell, p 77). It basically means reducing the price of a good service will result in […] More

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    EGT1 – Economics and Global Business Applications

    Elasticity of demand is a measure of responsiveness to a price change of a good or service. When demand is elastic, the percentage of a price change of a product will result in a larger percentage of quantity demanded (McConnell, p 77). It basically means reducing the price of a good service will result in […] More

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    Naked Economics

    Chapter 1: The Power of Markets •What are the two basic assumptions that economists make about individuals and firms? •What is the role and significance of prices in the market economy? •What’s so great about a market economy anyway? Market allocation 3 / Assume rational utility-maximizers 6 / Opportunity costs 9 / Profit max 11 […] More

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    Managerial Economics

    Chapter 1: Introduction to Managerial Economics 4. Describe the importance of the “other things equal” assumption in managerial economic analysis. 5. Describe what constitutes a market, distinguish competitive from non-competitive markets, and discuss imperfect markets. 6. Emphasize the globalization of markets. NOTES 1. Definition. Managerial economics is the science of directing scarce resources to manage […] More

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    Business Economics

    Cindy wants to invest in a new business that involves the installation of solar panels. In order to make an informed decision on this business venture, she will need to review potential profit/loss in the solar panel industry by considering future prospects for this type of business. Cindy also needs to decide whether she will […] More

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    Economics 247 Assignment 2 Version A

    Economics 247 Assignment 2 Version A This assignment has a maximum total of 100 marks and is worth 10% of your total grade for this course. You should complete it after completing your course work for Units 6 through 10. Answer each question clearly and concisely. 1. In perfect competition, one result of the model […] More

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    International Economics

    1. Why did the Mercantilists consider holdings of precious metals so important to nation-state building? (6 points) Wealth was viewed as synonymous with holdings of precious metals. Nation-states wished to become wealthy and this meant obtaining large holdings of precious metals. It is also argued by some that the shortage of coinage constrained the growth […] More

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    Economics Land Reform

    Lesson on LAND REFORM Land Reform – refers to the full range of measures that maybe taken to improve or remedy the defects in the relations among men with respect to their rights in Land. – Integrated set of measures designed to eliminate obstacles to economic and social development arising out of defects in the […] More

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    Basic Statistics for Business and Economics

    Over the last four weeks of being in the QNT/351 course our team has learned a lot about researching a hypothesis and understanding the mean. The hypothesis testing begins with the statement and the assumption that determines the population of the mean, (Lind, 2011, p.288.). There are five steps taken which include; state the hypothesis, […] More

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    Managerial economics

    1. If a firm raises its price for Product X, TR will increase. Uncertain, Total revenue = Price × Quantity Sold. The price elasticity of demand tells us there are two effects, first is price effect. If price increase, each unit sold sells for a higher price, which tends to raise revenue. Second is quantity […] More

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    Faculty of Economics and Business Science

    Introduction – How the American Low-Cost Airline Industry Looks Like? In the post World War II the federal government heavily regulated period, commercial air travels in the US. As a result, the nation was reliant on a few leading airline companies. Competition was permitted only within individual states. California and Texas were the only two […] More

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    Economics and Global Business

    A) Elasticity of demand is describes as the degree of percentage change in demand for a good or service due to variation in price. Elasticity measurements can be expressed by three types of demand; inelastic demand, unit elastic demand, or relatively elastic demand. To determine the percentage of change in demand for a product or […] More

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    Statistical Techniques in Business and Economics

    Abstract Along with the web 2.0 prevailing since the beginning of the 21st century, social media has become one of the most important tools for companies to develop the markets or public relations during this decade. Most companies around the world have a good sense of the importance of the social media. Companies use all […] More

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    Managerial Economics Chapter 5 and 6 Homework

    Part A: A firm maximizes profit when it equates MRPL = (MR) *(MPL) = MCL MPL= dQ/dL =1 – L/400 Therefore (40)*(1-L/400) = 20. The solution is L = 200. In turn, Q = 200 – (2002/800). The solution is Q = 150. The firms profit is= PQ – (MC)L= ($40) (150) – ($20) (200) […] More

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    Naked Economics

    DOCTORAL WRITING TIPS: PLEASE READ-IMPORTANT-HINT, HINT, HINT Please use the tips below and I am almost certain you will get a much better grade, create very polished, doctoral-level papers, and will have a MUCH easier time on your proposal/project/dissertation as these items are REQUIRED. 1. Do not use too many direct quotes — in academia […] More

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    Economics of Renewable Resources

    Answer any THREE questions. Do not attempt to answer more than three questions. The three questions that you answer will be given equal weight. 1.(a) Consider now a newly planted stand of trees. What decision rule should be employed for determining the “optimal” investment in the trees – the optimal rotation – given that the stand […] More

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    What does economics study

    Before you read Discuss the following with your partner. Do you know much about economics? Tick which of these statements you think are true. Then explain to your partner why. 1 Economics is only the study of money. 2 Economics is something governments take care of. 3 An economist basically decides how money is spent. […] More

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    Economics; question and answer

    Introduction Question 1 War unrest in Middle East has negatively impacted on the price and quantity of oil in the market. The expectation of war from Syria and Iraq to spread to Middle East countries cause fear of possible shortages of supply as people may possibly do without oil. As a result people will buy […] More

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    Economics of Organizations

    Introduction Coca-Cola is one of the world largest beverage companies in the world. The company offers its consumers with more than 500 sparkling and still brands.  The company is best known for its flagship invention of the product coca-cola which was invented in the in 1886 John stitch Pemberton. The management of the company has […] More

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    Economics

    Southwest Airlines begins a “ Bags Fly Free” campaign, charging no fees for a first and second checked bag. Does this situation best represent producer– producer rivalry, consumer– consumer rivalry, or consumer– producer rivalry? Explain. Southwest Airlines “Bags Fly Free” best represent producer-producer rivalry. Consumers have so many different choices of airlines they can choose […] More

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    Economics

    Save this file in your course folder, and name it with Assignment, the section number, and your first initial and last name. For example, Jessie Robinson’s assignment for Section 1 would be named JRobinson. Type the answers to the assignment questions below. Use complete sentences unless the question says otherwise. You will have more than […] More

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    Shanghai University of Finance and Economics

    1. Introduction Britvic Soft Drinks has a long and rich history. At first this company was then little more than a home business run from a chemist’s shop. Soon the company was producing all kinds of originally concocted soft drinks. It was only in 1949 that the Britvic brand was formally launched into the marketplace. […] More

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    Business Economics

    Table of Contents 1.INTRODUCTION 2.MAIN BODY 2.1THE NATURE OF RESOURCE COST STRUCTURE AND THE PRACTICAL SIGNIFICANCE OF DIFFERENT COSTS 2.2 THE FACTORS INFLUENCING OPTIMUM SIZE AND THE SIGNIFICANCE OF DEMAND AND SUPPLY RELATIONSHIPS 2.3UNDERSTANDING OF THE RELEVANCE AND LIMITATIONS OF ECONOMIC THEORY TO MANAGE DECISIONS 3.CONCLUSION 1.INTRODUCTION: From the economic perspective, there are a full […] More

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    International Economics Gerber Study Questions

    The United States in a Global Economy 1.Outline Introduction Globalization in Perspective The Growth of World Trade Capital and Labor Mobility New Features of the Global Economy New Issues in International Trade and Investment The Role of International Organizations Regional Trade Agreements Trade and Economic Growth Twelve Issues in the International Economy The Gains from […] More

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    Principles of Economics.Monetary Policy and the Federal Reserve

    Investment and consumption decreased during the 2007 and 2009 recession. Government expenditure can increase Aggregate demand because it increases liquidity in the market. The government may operate below full employment when job seekers are more than available job hence end up accepting low wages. The multiplier can have a negative effect when people lose jobs […] More

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    Trade blocs: Economics and politics

    Trading BlocsThe key term in this essay is “Trading bloc” and my interest in this term has been as a result of the major economic changes that have taken place across the world. I have been able to note that there have been great developments in international trading and business (Haftel, 2004). Economic integration is […] More

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