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1) Discuss the advantages and limitations of supply and demand?
2) Examine how an organizations in each market structure (perfect competition, monopoly, monopolistic competition, and oligopoly) maximize profits.
Identify a person in an organization, or event(s) that should be given credit for the relatively low, stable rate of inflation we've had in the United States since the late 1980s?
What are the profit-maximizing price and quantity? What will be the profits at these price and output levels?
A monopolist has demand and cost curves given by: Find out the quantity that maximizes profit? What is the revenue and profit at that point?
Suppose XYZ can sell up to 40 units of output per hour at a price of $.60 per unit but cannot even get a penny for units produced in excess of 40 units per hour. How much output should XYZ produce each hour in order to maximize profits?
Jet Set Travel, Inc. (JTI) has been hugely successful in the distribution of stylish, comfortable shoes for travel. Please describe how non-value added costs can damage the company, it sales, it costs, and it's value chain
If the economy is at point C, what is the cost of one more automobile? One more rocket? Explain how the production possibilities curve reflects the law of increasing opportunities costs
If the goal of the transit authority was to maximize total revenues, what is the new price it should set? Also, what would the total revenue raised in this new price scheme?
Political Economy GV307 : Consider the model of “no theft” where the consumer pays the official government price plus a bribe in order to obtain X. Assume that the official marginal revenue for selling the good in this context is given.
A firm produces 10 units per week at a price of $500 each. With AFC of $100 and AVC $350 per unit, the firm is earning economic profits of $500 per week.
Write a situation that would cause a shift in labor supply and demand. The following areas have had high job growth values and can be used for your scenario:
Explain and discuss the differences between private goods, public goods, natural monopolies, and open-access goods.
If the demand for corn rise due to its use as an alternative energy source, what will happen to supply of corn's substitute such as soybean?
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