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Consider a market where 100 firms are in operation in the short run. Each firm's cost function is TC= 450 + 2q2 . The market demand function is QD= 1200-5p.
a. Calculate the short-run market equilibrium (price and quantity).
b. Will there be entry or exit in the long run? (Suppose that demand and costs do not change.)
c. Calculate the long-run competitive equilibrium (price, quantity, and number of firms).
Calculate the markup percentage also target selling price that will allow Bolus Computer Parts to earn its desired ROI of 25% on this new component.
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You've entered into a contract to purchase a new house, and the closing is scheduled for next week. It's typical for some last-minute bargaining to occur at the closing table, where sellers often try to tack on extra fees. You have three options f..
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Provide a graphical analysis to explain why a firm would exit the industry and the effect of its exit on the industry. (Hint: Use MR and MC approach and short-run competitive equilibrium for a firm and industry to graph the effect)
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Aaron Hank is a star hitter for the Bay City Baseball team. He is close to breaking the major league record for home runs hit during one season, and it is widely anticipated that in the next game he will break that record.
Explain measures of economic growth and of comparative and absolute advantage in international trade for Canada. Two scholary peer reviewed sources.
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