Chapter 1 The Big Ideas in Economics Think of why some goods should be allocated by money while some not. Why demand curve is downward sloping? Two effects: 1.Substitution effect (dominent) 2.Income effect (small) The demand&supply curve can be read horizontally or vertically. You should be familiar with both ways of reading. Chapter 3 Supply&Demand Concepts: 1.A normal good: a good for which demand increases when income increases. An inferior good: a good for which demand decreases
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FIELD EXPERIMENTS IN ECONOMICS By: Ravisha Sodha INTRODUCTION: Field experiments occupy an important middle ground between laboratory experiments and naturally occurring field data. The underlying idea behind most field experiments is to make use of randomization in an environment that captures important characteristics of the real world. Distinct from traditional empirical economics‚ field experiments provide an advantage by permitting the researcher to create exogenous variation in the variables
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1. Fukaku Footwear wished to estimate the demand function for its ‘Elite VS600’ women’s shoes. The company’s economist believed that the main determinants of ‘Elite VS600’ shoes are: i) ii) iii) iv) the price of the shoes (Px) the price of a competitor’s shoes Dr. Martin (Py) the price of another competitor’s shoes ‘Madame69’ (Pz) and disposable per capita income (Y) A regression was run by using SPSS package and the result is shown as follows: LS//Dependent Variable is Qx Variable Coefficient
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To achieve an oligopolistic market structure there are certain characteristics which must be achieved. A small number of firms would dominate the market‚ each of these firms has a significant market power and would closely follow the behaviour of the other companies in the market. Unlike in a monopolistic market structure‚ the products produced by the firms of the oligopoly market do have substitutes. Firms will use non price competition methods in order to make their product or service stand out
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Managerial Economics Final Project Fajwa’s Apparel Outlets Iqra Fayyaz (10223004) Malik Usman Khan (10223001) Sufyan Adil (10223024) Jabbar Ahmed(10223006) Mohd. Salman (08110104) Instructor: Dr. Tasneem Akhtar GIFT Business School GIFT University ACKNOWLEDGMENT In the name of ALLHA ALMIGHITY the lord of the world who has bestowed us with abilities and blessed with knowledge so that we can make best of opportunities provide to us. First of all we are indebted toward ALLHA ALMIGHTY
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News: Colombia’s Ecopetrol cuts targets due to rebel attacks. Article highlights: In Colombia the guerilla group F:A:R:C attacks on Ecopetrol’s pipeline increased more than triple this year. This has caused that the best-preforming oil company in Colombia‚ which in addition belongs to the state to reduce its production targets drastically. The guerrilla group have attacked this company various times because it generates a great income for the state‚ and many of these incomes funds the military
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the expected value maximization model relates to firm’s various functional departments. The marketing department often has primary responsibility for promotion and sales (TR); the production department has primary responsibility for development costs (TC); and the finance department has primary responsibility for acquiring capital and‚ hence‚ for the discount factor (i) in the denominator. These functional areas have lots of important overlaps. The marketing department can help reduce costs for a given
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Downtown Lac Megantic starting a fire that before it was controlled left many people dead and economic loss. The catastrophe took place due to two main factors which are the lack of safety culture from MMA and the insufficient supervision of Transport Canada(TC). For instance‚ one factor that TC did not consider was the weaknesses in the oversight of the railway conditions. MMA has had issues regarding safety‚ that TC has been continuously reporting but not being sure those issues were effectively solved
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Unit TC 306 1.1 Health and safety at work act in health and social care covers a number of regulations including Manual Handling Regulations 1992 (amended 2002) Control of Substances Hazardous to health regulations 2002 (COSHH) Reporting Injuries‚ Diseases and Dangerous Occurrences Regulations 1995 (RIDDOR and amended 2008) Health and Safety‚ First Aid Regulations 1981 Management of Health and safety at work regulations 1999 1.2 The Law places certain responsibilities on both the employer
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Tc-99m Tc-99m is mostly a manmade substance. However‚ Tc-99m can be found in a few places throughout the environment. The few places that Tc-99m can be found is after detonation of nuclear weapon‚ airborne emissions from a nuclear reactor‚ airborne emissions from a nuclear fuel reprocessing plant‚ and the storage of radioactive waste in a facility‚ or a facility that treats radioactive waste. Since there are few places that produce Tc-99m there is a high need for the substance and is therefore
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