st.ca/ 2. If you are operating a business in a perfectly competitive market. You can sell as much as at the market price. Why can you not simply increase your profits by selling a highest quantity? Answer: 3. Your company operates in a perfectly competitive market. Your Manager told you that advertising can help you increase your sales in the short run. What kind of advertising campaign you will start for your product and how much gain is expected from an effective advertisement? Answer: 4. Suppose you are running a business and thinking to enter the monopoly market. As per your calculation, you can make a profit by keeping your product price 20% less than the monopolist. Explain, how the monopolist might react to stop you to enter the business? Answer: 5. The real GDP per capita of many countries such as China and Korea are greater than that of the US. Does this indicate that these countries will eventually overtake the US in terms of the growth rate of real GDP per capita? Explain. Answer: 6. As we all know that pandemic COVID -19 is creating the threat for the economic meltdown. You are required to analyze this pandemic effects on the aggregate demand and aggregate supply of Canadian economy. Answer
st.ca/ 2. If you are operating a business in a perfectly competitive market. You can sell as much as at the market price. Why can you not simply increase your profits by selling a highest quantity? Answer: 3. Your company operates in a perfectly competitive market. Your Manager told you that advertising can help you increase your sales in the short run. What kind of advertising campaign you will start for your product and how much gain is expected from an effective advertisement? Answer: 4. Suppose you are running a business and thinking to enter the monopoly market. As per your calculation, you can make a profit by keeping your product price 20% less than the monopolist. Explain, how the monopolist might react to stop you to enter the business? Answer: 5. The real GDP per capita of many countries such as China and Korea are greater than that of the US. Does this indicate that these countries will eventually overtake the US in terms of the growth rate of real GDP per capita? Explain. Answer: 6. As we all know that pandemic COVID -19 is creating the threat for the economic meltdown. You are required to analyze this pandemic effects on the aggregate demand and aggregate supply of Canadian economy. Answer
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:st.ca/
2. If you are operating a business in a perfectly competitive market. You can sell as much as at the
market price. Why can you not simply increase your profits by selling a highest quantity?
Answer:
3. Your company operates in a perfectly competitive market. Your Manager told you that advertising
can help you increase your sales in the short run. What kind of advertising campaign you will start
for your product and how much gain is expected from an effective advertisement?
Answer:
4. Suppose you are running a business and thinking to enter the monopoly market. As per your
calculation, you can make a profit by keeping your product price 20% less than the monopolist.
Explain, how the monopolist might react to stop you to enter the business?
Answer:
5. The real GDP per capita of many countries such as China and Korea are greater than that of the US.
Does this indicate that these countries will eventually overtake the US in terms of the growth rate of
real GDP per capita? Explain.
Answer:
6. As we all know that pandemic COVID -19 is creating the threat for the economic meltdown. You
are required to analyze this pandemic effects on the aggregate demand and aggregate supply of
Canadian economy.
Answer
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