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Discuss the characteristics of Great Britain's economic relationship with India in the 17th and 18th centuries? How would you describe their success in their competition with the Dutch?
Compute Calvin's profit-maximizing output level. Compute the Calvin's economic profits at this activity level. Is this activity level sustainable in long run?
Describe some of the microeconomic and macroeconomic factors a firm must consider in its own sales and profit forecasting.
Monopoly Rinks is the only ice skating facility in Mapleville. The next closest rink is about 100 miles away. It has determined that its demand curve is
A firm has a cost function given by the following: Find the firm's production function, y= f(x1, x2).
Examining the current market situations of "Starbucks" competition can take many forms. value competition includes collusion, price leadership, loss leaders, price discrimination.
Describe the market growth rate for product and service.
Assume that the competitive firm's marginal cost of producing output q is given by MC(q)=3+2q. Suppose that the market price of the firm's product is $9. Find out level of output will the firm produce?
Give one business example for increasing returns to scale and decreasing returns to scale respectively. How does this characteristic affect its business strategies? Justify your arguments.
The marketing team for a restaurant wants to estimate the price elasticity of demand coefficient for its steak dinner. It priced its dinner at different price points in local restaurants to see how many would be sold at different prices.
Derive the FOC and SOC conditions of profit maximization for this firm. Show that SOC is satisfied (impose necessary conditions). Which plant will have a greater increase in output? Please explain why.
Is Publix the monopolistic competition, oligopoly, monopoly, or perfect competition? Justify your classification of firm and employ the characteristics and features of the different market structure to determine which market structure to classify ..
Pick a social problem where free markets aren't allowed to function and explain how free market features could be introduced to aid alleviate the problem.
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