Microeconomics

The article is about the rising competition between estate management companies in U.S. The 4Ds that stands for death, divorce, debt, and downsizing, are commonly claimed to be the factors that have stimulated the growth of these estate sales businesses, which caused a fierce competition within these estate sales agents or firms. As the parents of baby boomers reach the end of their lives, and the boomers themselves retire and downsize, more and more firms are entering this business because the demand

B. Answers to Short-Answer, Essays, and Problems 1. What are the major features of monopolistic competition compared to pure competition and pure monopoly? In monopolistic competition, there are a relatively large number of firms, not the thousands of firms as in pure competition. The monopolistically competitive firms produce differentiated products, not the standardized products of pure competition. Product differentiation means that monopolistic competitors engage in some price competition

Harvard Business Case 1 - Precision World Wide, Inc. Managerial Accounting BUS5431, Spring 2015 What action should Hans Thorborg take? Why? Hans Thorborg is the general manager of a manufacturing firm, Precision Worldwide, Inc., which produces steel rings for various domestic and international companies. Recently there has been a shift in the market to a new product, a ring made of plastic rather than steel. The new product is of a higher quality in regard to consumer concerns compared

Homework #1 ECO 156 Principles of Macroeconomics Chapter 1 & 2 1. Identify whether each of the following transactions takes place in the factor market or the product market. a. Billy buys a sofa from Home Time Furniture for his new home. Factor market b. Home Time Furniture pays its manager her weekly salary. Product market c. The manager buys dinner at Billy’s Café. Product market d. After he pays all of his employees their wages and pays his other bills, the owner of Billy’s

1. (5 points) A constant cost industry is one in which the LRMC for the industry is constant. An increasing cost industry is one in which the LRMC for the industry is increasing. Which is more likely to be a constant cost industry: bagel restaurants or cranberry production? Explain. What does this imply about the slopes of the long-run supply curves in these industries? In this article, the bagel industry closely resembles a constant cost industry. A constant cost industry is a perfectly competitive

Discussion Board Forum 1 Topic: Economic incentives Then discuss your topic in an original thread by 11:59 p.m. (ET) on Friday, and reply to at least 2 classmates' threads by 11:59 p.m. (ET) on Monday. Be sure to include the following:  * In the first paragraph, discuss the relevant economic theory of your topic (your textbook is a good source for this paragraph). * In the second, you must include outside research to corroborate your thread (from the Liberty University Online Library

MBA 515 Practice Multiple Choice Questions 1. If the price of automobiles were to increase substantially, the demand curve for gasoline would most likely A) shift leftward. B) shift rightward. C) remain unchanged. D) become steeper. 2. Recently, many cities have attempted to pass laws taxing the sale of sugary drinks such as soda pop. If one of these laws passes, we would expect A) the supply curve for soda pop to shift to the right. B) the supply curve for soda pop to become more vertical

Case Study on Japan Sales Force The main issue in case study 4-7 focuses on what the Japan company Nippon Cash Machines and their recent US merger National Office Machines should do to their Japanese sales force who has always followed a salary based payment plan and lifetime job security because they are quickly loosing market share in a highly competitive market. Therefore, the main statement for the case is as follows:      Should a merged company such as who Nippon/American Business Machines

Homework Problem Set #1 Delectation Delicatessen Problem a) Answer: Delectation wants to determine the number of Fish-n-Fowl and Surf-n-Turf sandwiches it should make each day to maximize the deli’s revenues in USD$. The decision variables are how many units of Fish-n-Fowl and Surf-n-Turf sandwiches Delectation should make each day. F= units of Fish-n-Fowl sandwiches Delectation should make each day. S= units of Surf-n-Turf sandwiches Delectation

Economics; is an important subject to understand the workings of finances. The common definition of economics is the social science that analyzes the production, distribution and consumption of goods. Freakonomics, the title of this book has the reader wondering what this book is about. From the title and even the cover picture it is clear it is not your average text book on economics. Yet, the authors have collected data and analyzed it to come to their conclusions on some unusual hypotheses