December 2020

How does economics explain people not makingeconomically rational choices at times? Define behavioral economics. What are the three common mistakes that consumers often make? Give an example of each mistake.

Fill in the missing values in the following table.

Think about the various flavors of chocolate blocks: dark, mint, ginger, and chilli. Suppose the price of all mint chocolate blocks increases. Would this affect the sales of that type of chocolate? Briefly explain.

Rubric for Literature Review section draftStudent:___________________________________________ Total APA Style & Paper Submission (40) 4 2 0 1 Body of paper is at least 5-6 full pages (APA) ☐ Yes ☐ No 2 Paper includes running head in APA Style ☐ Few Errors ☐ Occasional Error s☐ Many Errors 3 Headings are utilized and headings are

Suppose you are analyzing a market with a large number of active firms. What would you look for in order to determine whether those firms face a downward sloping demand curve or a horizontal demand curve?

Hedging exchange rate risk at Afterpay Version 1 Suppose today is February 27, 2020. You are a risk analyst working at the finance department at Afterpay, an Australian e-commerce platform that allows consumers to “buy now, pay later”. Due to the growing importance of the US and UK segments, the company’s Chief Financial Officer is

What is a monopoly? Can a firm be a monopoly if close substitutes for its product exist? Why are there two definitions of a monopoly, a narrow and a broader one?

Some claim that Microsoft is a monopolist because of the Windows operative system: there are no close substitutes for this product and, therefore, Microsoft enjoys positive profits despite making mistakes at times. For example, Windows Vista has been negatively assessed by most users. Do you agree? Briefly explain your answer.

Do you think it possible for a labor supply curve to be backward bending rather than simply upward sloping? Briefly explain the circumstances under which such a curve is likely to occur.

The supply of abundant and cheap labor in China is declining, and China’s working population is expected to reduce. What do you think would explain these changes in the Chinese labor supply? Briefly explain.