Econ 306 Final Exam

In analyzing factors attributable to the change in a firm's operating income from one year to the next, which of the following effect(s) may be included in the price-recovery factor?

d) Break even sales change that would change the profits by the same amount as a reduction in price.

Thus, the firm should sale 44,461.54 kg at retail price of 6.85 to achieve the same profit impact as selling 30 tons at retail price of 8.20.

The economy of Brazil is in the top ten largest economies along with the United States. It is the biggest in Latin America. Actually it is the seventh largest in the world. Brazil has used its newly found economic mechanism to syndicate its outcome in South America and show more of a role in the Global Businesses. The Obama Administration’s National Security Strategy recognizes Brazil as a developing center of effect, and greets the management of the country’s joint and global issues. The United States and Brazil associations mostly have been good in the recent years. But Brazil has other strengthening relations with neighboring countries and expanding ties with nontraditional partners in the South that’s developing.

-Mohair farmers have earned a subsidy from the federal government for decades because the mohair farmers can get large payments from the government without taxpayers ever really noticing because the farmers who get the subsidy care a lot about it, while the rest of us taxpayers (paying mere pennies extra in taxes) do not really care. And, “any politician with a preference for job security can calculate that a vote for the mohair subsidy will earn the strong support of the mohair farmers while costing nothing among other voters” (Wheelan 177).

Answer the next question on the basis of the following production possibilities tables for countries Alpha and Beta:

THE UNIVERSITY OF NEW SOUTH WALES SCHOOL OF ECONOMICS ECON1202/2291 QUANTITATIVE MEHODS A FINAL EXAMINATION SESSION 2 2008

An ethical issue that individuals face today involves the price war or price discrimination involving the airline industry. According to the legal definition of price discrimination: Price discrimination is the practice of charging different persons different prices for the same goods or services. Price discrimination is made illegal under the Sherman Antitrust Act. 15 U.S.C. §2, the Clayton Act, 15 U.S.C. §13, and by the Robinson-Patman Act, 15 U.S.C. §§13-13b, 21a, when engaged in for the purpose of lessening competition, such as tying the lower prices to the purchase of other goods or services.

15. In pure competition, each extra unit of output that a firm sells will yield a marginal revenue that is ( )

Question 5 If the relevant population is 268 million people and the number of people in the labor force is 148 million, the labor force participation rate is:

Your paper should be between 1750 and 2500 words, in APA format and structured as follows:

4. Here it is seen that the opposite of answer 3 happens. Both the point of break even for sales dollars and number of unit sales has gone up. Of course this

In this written assignment, I am going to explain the difference between implicit and explicit costs. Also, I will provide two examples of when an explicit cost is different from an implicit cost. In addition, I will explain the difference between accounting and economic profit and provide two examples of when they differ.Finally, I will explain the difference between economies and diseconomies of scale and provide examples of when an actual firm might benefit from economies of scale or be harmed by diseconomies of scale.

b. can be calculated by subtracting implicit costs of using owner-supplied resources from the firm’s total revenue.

• competitive advantage typically results in high profits • profits attract competition • competition limits the duration of competitive advantage in most cases Therefore,