The Perfect Mate

“Totalitarianism is neither a consequence of ‘corruption’ nor ‘historical accident’, but rather a logical consequence of institutional incentives of the attempts to centrally plan an economy”. In The Road to Serfdom, Hayek seeks to convince the British people that socialism can lead their country to the end of Fascism, which is not a particular product of the wicked Germany. Without using mathematical economic model, Hayek consciously delineates the intuitive proceedings from ‘good economic…

otherwise it will be a disaster! While Mr. and Mrs. Banks are talking, Jane and Michael come in and say they would like to help with picking out the next nanny so they also wrote a song. While the children are singing about their version of the perfect nanny, Mr. Banks rolls his eyes and tries to interrupt them. However, Mrs. Banks tells him to listen to their children. In contrast to Mr. Banks, the children want a fun loving nanny, and one that loves them like a daughter and a son. The…

AT&T Inc. is a multinational telecommunication company located in the United States of America. Notably, its headquarters are located at the Whitacre Tower in downtown Dallas in the Texas. It is important to note that AT&T has been cited as the second largest mobile phones provider. In addition, the company has emerged as the largest provider of fixed telephone services in the United States. Apart from the telephone services, the company is a major provider of broadband television subscription…

Our product (jet pack) is very special and there are few companies that make like our product so this makes our mission essayer to compete with our competitors. Our competitors are (GO SPORT and Extreme Dubai (X Dubai)).Our product jet pack has many advantages that can make the product be more successful than our competitors’ products and these advantages are: firstly, design of jet packs. Secondly, the Weight of jet packs. Thirdly, the availability of jet packs. Firstly, the product design,…

In the article ‘Boulder-based company to pay for retaliation”, written by Erica Tinsley from 9 News, tells of how an employee was terminated for questioning the safety of some of the equipment in the location. This was a violation of the employee’s labor rights and Occupational Safety and Health Administration (OSHA) was there to help the employee. The company was to pay $125,000 to their former employee because of their violation of the Consumer Product Safety Improvement Act. When reading this…

wages determined? Is there bargaining between firms and workers? Equilibrium search theory provides a rigorous but manageable framework that can be used to address these and related questions. According to Cahuc and Zylberberg (2004) “The theory of perfect competition predicts that identical individuals with identical jobs should receive the same wage”. The authors…

1) A Study of Cartel Stability: the JEC, Robert H. Porter, 1880-1886 This paper examines the model proposed by Green and Porter, which is a model of dynamic price competition under imperfect monitoring, i.e. firms encounter the problem of detecting and deterring deviation from the agreement. Firms can only observe the market price, but do not know the actual production level of another firm. Unexpected fall in prices may account for deviation from the colussive output or bad demand shock. So…

The neoclassical economic model gives an exceptionally fulfilling clarification of why parties are willing to join hands and enter into a contracts. Parties enter into contracts with their own free will without any coercion. Hence each party will enter into a contract only if its anticipated benefits are greater than the expected costs. For example assume that a house owner offers to pay a painter $5,000 to paint her home. The house owner must expect the value of the benefits she receives from…

Richard Loeb both came from wealthy families from Chicago, Illinois. Loeb was a troublemaker and has been obsessed with committing crimes all his life. It was just a matter of time where he would prove to everyone that he was capable of committing the perfect crime. Leopold, on the other hand, has not been much of a troublemaker. Leopold focused on his studies and was planning on attending the prestigious Harvard Law School soon in the future. During his studies, Leopold came across a book that…

A monopoly is a market where the supply of a commodity is controlled by one firm who then becomes the single seller. Monopolies hold power over the market, meaning they can either set a fixed price or determine an output and then sell this output at the highest price the market will bear. The United States Postal Service is a natural monopoly, meaning they have large economies of scale that limit their costs of production and are large enough to efficiently supply the country with mail. Since…