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Suppose two identical firms produce widgets and they are the only firms in the market. Their costs are given by C1 = 5 (Q1 ) and C2 = 5 (Q2 ) respectively, where Q1 is the output of firm one and Q2 is the output of firm 2. Price is determined by the following demand curve: (MC for each firm is 5)
P= 100-Q, where Q = Q1 + Q2 .
Find the Stackleberg Equilibrium.
The supply curve for labor is S L = 100W, where W is the market wage. The marginal revenue product curve for the firm is D L = -50W + 450.
If the price of manufactured goods rises to $6 bushel (a rise of 50%), the parity price of corn as well rises by 50% - to $4.50 in this hypothetical example.
Find out the optimal weekly output and price of this firm. Find out the weekly profit from the production and sale of this product.
"A substantial number of relatively unskilled persons reported that they can't find work. At the same time, there're many unfilled jobs for relatively skilled people. Apparently, the problem is that there're more unskilled peop..
What price and quantity will the monopolist produce at if marginal cost is a constant$4 ? Compute the dead weight loss from having the monopolist produce, rather than the perfect competitor
What is opportunity cost? Explain with the help of an example, why assumption of constant opportunity cost is very unrealistic? Explain law of demand with the help of a demand schedule and demand curve.
Which of the followings tends to occur during recessions Cyclical unemployment tends to fall The stock markets tends to surge (experience a rapid rise in prices) Interest rates tend to fall Gross Domestic Product rises Consumer ..
Shelly's preferences for consumption and leisure can be expressed as. This utility function implies that shelly's marginal utility of leisure is C-200 and her marginal utility of consumption is L-80.
Draw a correctly labeled loanable funds graph that shows what happens to real interest rates.
In article on the steel industry, The Wall Street Journal noted that as steel prices were falling, steelmakers were not cutting production
The advent of the one man bus involved more capital equipment: an automatically operated coin box and door control device - to name two of the capital goods that replaced the conductor."
Describe the Soviet Rapid Development Model
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