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Assume that you are going to start a small business of your own. Further, imagine that you are able to adequately differentiate your product, or service so that you can establish your business as a monopolistically competitive firm.
Describe the business and its likely main competitors.
How would you structure your advertising and customer service to differentiate your product/service?
How easy would it be for new competitors to enter your market and erode your customer base or selling price?
What would be your prognosis for the long term profitability of such a business?
What could you do to protect that long term profit stream?
Since there is free mobility of resources, the perfect competitor can freely move in and our of a given perfectly competitive market. Economic profit involves explicit costs, while accounting profits involve implicit costs. The demand which a monopol..
q.a researcher investigating the uns millennium development goals looks at schooling in lusitania. he takes a sample of
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Name a specific event to be expected to cause the equilibrium price of ice cream to increase.
A woman with a taxable income of about $100,000 has a federal incremental tax rate of 26% and a provincial incremental tax rate of 12.29%. What is her combined incremental tax rate?
A friend of yours has just returned from desert island where she was stranded alone since January 2009. Having completed Econ. 104 just prior to arriving on the desert island (and being naturally curious), Is international trade more or less importan..
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Which of the following best describes the classical view of economics?
Graph the Demand, Marginal Revenue, Marginal Cost, and Average Total Cost curves. What are the equilibrium price and quantity for this monopolist if it charges a single price to everyone? How much profit does the firm make? Show on the graph whether ..
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