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1. Explain how a firm in Pure Competition determines how much to produce and how long run equilibrium is affected by the long run cost structure in such an industry.
2. Using the "Monopoly" model found in the Chapter 10 "Origin of Idea" module, explain why a monopoly will never operate in the inelastic portion of the demand curve?
3. What are the underlying purposes of the antitrust policy in the United States? These concepts are discussed in the textbook reading for this week.
Suppose the movie theater cannot price-discriminate and needs to charge both students and professors the same price per ticket. If the movie theater charges $5, who will buy tickets and what will the movie theater’s profit be? How large is consumer s..
What is offshoring of white-collar service jobs, and how does it relate to international trade Why has it recently increased Why do you think more than half of all of the offshored jobs have gone to India
m.d. einstein is considering what she should do for the rest of her life.she is considering becoming a brain surgeon.
The effect of rising energy prices for the economic wellbeing of households and the likely effect of increases in the cost of traditional sources of energy for the energy consumption patterns of Australian households
thomas malthus argued that capitalism was unstable due to booms and busts in the economy and so he wanted to see more
describe the concept of investment spending, as wellas what will happen to the aggregate demand curve if investment spending is increased autonomously and provide an example ofspending that a macroeconomist would consider "investmentspending."
A channel of distribution: A) is any series of firms or individuals who participate in the flow of goods and services from producer to consumer or final user. B) is only needed when products must be stored. C) must include one or more intermediarie..
Why would a chain such as Marriott tend to own its hotels in resort areas, such as national parks, where there is little repeat business, and franchise hotels in down-town areas, where there is a lot of repeat business.
"Since the indirect utility function, under standard assumptions, is quasi-convex in prices, randomization over equilibrium prices can be Pareto improving even if fundamentals are not stochastic." Assess this claim and its implications or compatibi..
1. a tariff levied as a certain amount per unit imported is known asa specific tariff.a counter tariff.a forgone
There are many more sole proprietorhips than corporations or partnerships. Why are there so many sole proprietorships Why is the revenue of the average sole proprietorship less than that of the typical corporation
One of the lessons of economics is that "there is no such thing as a free lunch." That means that businesses, consumers and whole societies face tradeoffs whenever they make a decision. Explain a decision that you have made at work or concerning your..
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