Chapter 3 Demand‚ Supply‚ and Market Equilibrium 3.1 Firms and Households: The Basic Decision Making Units 1 Multiple Choice 1) Michael Dell was the first individual who sold computers by mail order. The company founded by Dell is now one of the largest and most successful computer companies in the United States. Michael Dell would be classified as a(n) A) entrepreneur. B) opportunist. C) monopolist. D) socialist. Answer: A Diff: 1 Topic:
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Homework Questions 1) El Niño wind patterns affected the weather across the United States during the winter of 1997–1998. Suppose the demand for home heating oil in Connecticut is given by Q = 20 – 2Phho + 0.5Png – TEMP‚ where Q is the quantity of home heating oil demanded‚ Phho is the price of home heating oil per unit‚ Png is the price of natural gas per unit‚ and TEMP is the absolute difference between the average winter temperature over the past 10 years and the current average winter temperature
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1.(a) analysis the advantages and disadvantages to Barr’s of its product mix. (10’) A.G. Barr is a traditional company mainly operated soft drinks. Product mix of A.G. Barr can be categories into two parts: one is Barr’s Own Brands and one is Barr’s Franchise Brands. Advantages of Barr’s Product Mix: Through the case study‚ A.G.Barr Company has suffered fierce competition and finally becomes a historied company. It has sophisticated distribution channel which can help company save the cost and
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cQuiz #1 ECON 2001.01 Name: __________________________ OSU Email: _____________ 1. If resources are "scarce‚" it means that they: A) cannot provide enough goods or services to satisfy all human material wants and needs. B) have no opportunity cost. C) are probably not valued by consumers. D) have an unlimited supply. 2. An economy is efficient if it is: A) possible to produce more of all goods and services. B) possible to produce more of one good without producing less of another. C)
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It has been become an issue of great concern that the accounting profession must find a common theory in order to address and put the issue at rest. This therefore‚ has called for the study of this topic under review “the demand for and supply of accounting theories: the market for excuses. As a result of this several questions have been raised. For instance‚ the question of why accounting theories are predominantly normative has been put forward by this article? Secondly‚ why no single theory in
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Chapter 1 - Speaking in Public 1.Speakers should focus on the message they are expressing more so than how the audience is responding to the message. – False 2.Messages are usually transmitted from sender to receiver through audience and listener channels. – False 3.Smiles‚ head nods‚ eye contact‚ and clapping from audience members are all forms of feedback. 4.An ethical speaker considers the moral impact their ideas and arguments have on their listeners. 5.“Care and concern for others‚ the
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double counting!) Key Distinctions Gross investment = net investment + depreciation Nominal – value measured in terms of current prices Nominal GDP – measures the value of current output valued at current prices Real – value that takes into account changes in prices over time Real GDP – measures the value of current output valued at constant (base year) prices Per capita – per person or per head GDP – produced within the boundaries of a country Ex. Toyota plant in US is part of US’s
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animals 1. What food makes up nearly all (around 99%) of a Giant Panda’s diet? 2. True or false? Mice live for up to 10 years. 3. What is the name of the phobia that involves an abnormal fear of spiders? 4. What is the largest type of ‘big cat’ in the world? 5. True or false? Crocodiles have no sweat glands so they use their mouths to release heat. 6. Are butterflies insects? 7. What are female elephants called? 8. True or false? Bats are mammals. 9. Bees are found on every continent of earth except
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Fred and Ginger are general partners in a business. They decide to purchase a building for the partnership. Ginger will put up the money for the building‚ and Fred will complete the remodeling. While inspecting the building‚ Fred is informed that the building is packed full of asbestos. He fails to tell Ginger of the presence of the substance. They buy the building and go into business. During the remodeling of the building‚ people from the neighborhood begin complaining about the dust from the building
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- QUESTION 1- WHAT IS SOCIOLOGY? IDENTIFY ITS UNIT OF ANALYSIS. HOW DOES IT DIFFER FROM DISCIPLINES SUCH AS ANTHROPOLOGY AND PSYCHOLOGY? - QUESTION 2- WHAT DID PETER BURGER MEAN WHEN HE SAID THE SOCIOLOGICAL PERSPECTIVE IS ‘SEEING THE GENERAL IN THE PARTICULAR’? - QUESTION 3- WHICH GROUP OF INDIVIDUALS IS MORE LIKELY TO COMMIT SUICIDE‚ ACCORDING TO DURKHEIM? EXPLAIN HOW SOCIOLOGISTS KNOW THAT THE POWER OF SOCIETY IS EVIDENT IN THE PERSONAL DECISION TO COMMIT SUICIDE.
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