Economics

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Macroeconomics Microeconomics

Scenario Sterling Bay Tourism Development Plan

Question Read the following case about Sterling Bay, and refer to the questions on the next page to guide your answer.Sterling Bay is a small settlement of 5000 people located on the tip of a peninsular. Being situated by the sea and at an area with particularly abundant marine life, the economy of ... Read More

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Essay On The Economy Of Sterling Bay

QuestionRead the following case about Sterling Bay, and answer the questions.Sterling Bay is a small settlement of 5000 people located on the tip of a peninsular. Being situated by the sea and at an area with particularly abundant marine life, the economy of the town has always revolved around fishi ... Read More

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Discuss About Equilibrium Price And Quantity In Market For Laptops

QuestionIn the world of electronics overtime people realized the immense use of having a personal laptop. And at the same time the technology has improved significantly in last decade. In fact the technological improvement has surpassed the increase in willingness and ability to purchase a laptop. G ... Read More

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Calculate Equilibrium Price With Income Elasticity Given

QuestionIf income elasticity of demand of good X is 0.89, what will happen to equilibrium price if there is an increase in income of consumers? Draw a diagram to support your answer. SummaryThe question belongs to Economics, Micro-economics and it discusses about calculating equilibrium price with ... Read More

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Explain The Impact Of Minimum Wage Rate On Labor Market

QuestionIf Ministry of labor sets up a minimum wage in the labor market, what can be the potential effect on the employment? Explain your answer with help of relevant diagram. SummaryThe question belongs to Economics, Micro-economics and it discusses about a question where the ministry of labor set ... Read More

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Calculation Of Different Cost Levels

QuestionA manager in a firm has been assigned a job to find costs at different levels of output. He is provided with the following table and asked to fill up the missing values since there was no information available. Output Total cost Fixed cost Variable cost Average v ... Read More

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Explain Elasticity Of Products Booming During Recession

QuestionAccording to posting from last fall, sales for products such as Spam, pancake mixes, instant potatoes, rice and beans have been booming during the recession; a spokesperson from a grocery chain is quoted as saying “They’re real belly fillers.” Comment on this, using co ... Read More

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Increase In Bus Fare Between Abu Dhabi And Dubai Inelastic Demand Curve

QuestionIf RTA increases the bus-fare from Abu Dhabi to Dubai, then what will happen to their revenue? [Hint: the demand curve is inelastic] Explain your answer with help of a diagram. SummaryThe question belongs to Economics, Micro-economics and it discusses, if bus fares from Abu Dhabi to Dubai ... Read More

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Importance Of Recovery Of Variable Cost

QuestionA local firm in Abu Dhabi is operating under a perfectly competitive environment. If price in market is 4 AED and their total cost is 500 AED (including the fixed cost of 200 AED) for output of 30 units, then should they continue to produce or shut down in short run?  Provide your answe ... Read More

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Price Discrimination By Coke

QuestionRecent research has documented the fact that Coke is something different compared to other soft drinks. In fact related literature states that Coke has already attained the monopoly status. If we assume the research is correct and coke is a monopolist, then a) Do you think that coke actively ... Read More

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Price And Output Effect Of Duopoly Forming Cartel

QuestionEtisalat and Du are duopolists. If they form a cartel between themselves, then what will happen to price and output in the market? Discuss your answer with a relevant diagram.SummaryThe question belongs to Economics, Micro-economics and it discusses about a duopoly forming a cartel between t ... Read More

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How To Restrict A Monopoly

QuestionIn a recent conversation a policy maker argued that since DEWA is monopolist, they are charging higher price and lower output is produced. He further mentioned that government should split the entire unit into small pieces so that competition can drive down prices. Do you agree with this sta ... Read More

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