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In the competitive industry, reduction in property tax rate on fixed capital (plant) would reduce the fixed cost of all firms. This would have the following short-run effects on P, Q, and q respectively.
A) Fall, Rise, Rise B)Fall Fall Rise
C) Rise, Rise, Rise D) No change in any
E) Fall, Fall, Fall
In a perfectly competitive market, the question facing the individual firm is
a. how much to produce. b. what price to charge.
b. how much to produce and what price to charge. d. how to differentiate its product.
c. as a price searcher, to emulate its competitor's pricing strategy.
In the competitive market, the market demand is Qd=48 - 5p and the market supply is Qs = 7P. The equilibrium price is4
Would the accumulation of historical prices and quantities exchanged in the market establish a long-run supply curve? How would the historical relationship differ from how firms (and economists) envision today's long-run supply in the industry?
If nothing else changes, what happens to the price and quantity if the supply curve shifts to the right? What is the law of supply? Give two examples of how you have observed the law of supply at work.
How foreign direct investment influences the wages
The problem in economics in price theory deals with deriving maximum marginal utility and marginal rate of substitution.
Solve the partial derivative
Some commentators have argued that the failure of the “Super committee” is good thing for the economy? Do you agree?
What is the competitive equilibrium price per ride and what is the equilibrium number of rides per day? How many boats will there be in equilibrium? In this competitive market, what is the aggregate profit?
On Valentines Day, the prices of flowers and chocolate are usually high compared to other times. How do the principles of demand and supply describe the reasoning behind such price increases?
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?
Identify which of the determinants of demand or supply are affected and also indicate whether demand or supply increases or decreases.
What is the law of diminishing marginal productivity? How does it differ from average productivity?
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