MICROECONOMICS PORTFOLIO Theme:- Changi Airport authorities must promote Airlines by giving them rebates in landing charges and office rentals to increase traffic on airport. Article selected for discussion:- “Changi must extend Lifeline”‚ THE STRAITS TIMES‚ 14 November 2009 Main points in the article:- • Firstly SARS Virus hit the aviation industry in 2003 and currently economic downturn is pulling it back. • Changi Airport authorities are giving
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Can I make you some sandwiches? Clyde was walking around town one day with his friends. They were all extremely hungry. Then Nick suggested he knew the perfect place to fill the rumbling stomachs. Subway! This restaurant pleases all of its customers because of its delicious selections‚ nutritious menu‚ and excellent staff. It is extremely satisfying. Because of its delectable choices‚ this eatery fulfills their clients’ wants and needs. With all of the subs they have you can choose any topping
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Introduction to the Bertrand Model The Bertrand model was developed by Joseph Bertrand to challenge Cournot’s work on non-cooperative oligopolies. Cournot’s model dealt with an N number of firms who will choose a specific quantity of output where price is a known decreasing function of total output. (About.com 2011) However‚ Bertrand’s argument was with regard to the setting of prices. He said the only factors influencing the price in an oligopolistic market were the firms themselves and therefore
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Principles of Microeconomics‚ 8e (Case/Fair) Chapter 7: The Production Process: The Behavior of Profit-Maximizing Firms The Behavior of Profit Maximizing Firms Multiple Choice Refer to the information provided in Figure 7.1 below to answer the questions that follow. Figure 7.1 1) Refer to Figure 7.1. Panel _____ represents the demand curve facing a perfectly competitive producer of wheat. A) A B) B C) C D) D Answer: B Diff: 2 Type: A 2) Jerry sells cherry sno-cones
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SI THE UNIVERSITY OF NEW SOUTH WALES SCHOOL OF ECONOMICS SESSION 2‚ 2009 ‚. ECONllOl MICROECONOMICS I FINAL EXAMINATION TIME ALLOWED - 2 HOURS THIS PAPER IS WORTH 50% OF THE TOTAL SUBJECT MARK This examination paper consists of two parts - Part A and Part B Part A consists of 30 multiple choice questions each worth one (1) mark. Answer all the questions in Part A on the answer sheet provided‚ using pencil only: (a) Print your student number‚ name and initials in the space provided
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Place your answer on the answer sheet. There are 50 questions‚ each worth 2 points. 1) In 1985‚ Alice paid $20‚000 for an option to purchase ten acres of land. By paying the $20‚000‚ she bought the right to buy the land for $100‚000 in 1992. When she acquired the option in 1985‚ the land was worth $120‚000. In 1992‚ it is worth $110‚000. Should Alice exercise the option and pay $100‚000 for the land? A) Yes. B) No. C) It depends on what the rate of inflation was between 1985 and 1992
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0. Unit Information 0.1 Introduction Welcome to LBE 100 Microeconomics. You may be taking this unit as part of an Economics major or minor‚ or as one of the required units for professional recognition in Accounting‚ or to support your major in Finance‚ Marketing‚ Management‚ or because you recognise that some knowledge of economics is essential these days for understanding key issues in business‚ politics and society‚ whatever career you pursue. In each case‚ we hope you will enjoy the unit
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Econ2TEST4 Multiple Choice Identify the choice that best completes the statement or answers the question. ____ 1. Five months ago Wilson opened up a health club. Which of the following is an implicit cost related to the health club? a. Wilson paid $120 for an outside laundry service to clean the towels used at the club. b. Wilson paid $100 for the pest control exterminator to spray the health club. c. Wilson previously worked as an accountant‚ earning $3‚000 a month. d. Wilson usually eats four
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2014]. Sloman‚ J. 2008. Economics and the business environment. 2nd Edition. UK: Pearson Education Limited. Whalley‚ A. 2010. Strategic marketing. 1st Edition. [Pdf]. Available to download on <www.bookboon.com>. Ahlersten‚ K. 2008. Essentials of microeconomics. 1st Edition. [Pdf]. Available to download on <www.bookboon.com>. European Commission. 2012. Competition. [Online]. Available at: <http://ec.europa.eu/competition/consumers/> [Accessed: 17 September 2014]. Balcerowicz‚ L.‚ Rzonca‚ A.‚ Kalina
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Chapter 1 7. Indicate whether each of the following statements applies to microeconomics or macroeconomics: a. The unemployment rate in the U.S. was 9.0% in April 2011. Macroeconomics b. A U.S. software firm discharged 15 workers last month and transferred the work to India. Microeconomics c. A unexpected freeze in central Florida reduce the citrus crop and caused the price of oranges to rise. Microeconomics d. U.S. output‚ adjusted for inflation‚ grew by 2.9% in 2010. Macroeconomics
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