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Suppose you have identified the existence of a cluster and are looking to classify it. Any cluster will contain features of one or more of the "ideal" types described in the text. What key, observable characteristics would you use to classify the cluster as a Pure Agglomeration, an Industrial Complex or a Social Network?
A construction manager just starting in private practice needs a van to carry crew and equipment. She can lease a used van for $3581 per year, paid at the beginning of each year, in which case maintenance is provide. What is the most she should pay f..
Suppose that demand for a product manufactured in your state is Q = 1,200 - 4P and the supply is Q = 2P. Furthermore, suppose that the Marginal External Cost or damage associated with production of this product is $12 per unit. How many more units of..
Consider the strategic games described below. In each case, state how you would classify the game according to the six dimensions outlined in the text. (i) Are moves sequential or simultaneous? (ii) Is the game zero sum or not? Are cooperative agreem..
The Constitution The weekly worksheets will help you build all of the necessary parts for your Final Paper. It is recommended that you review the Learning Activity assignments and review the Final Paper prompt before beginning this assignment. This w..
GM announced that it will close its Oshawa truck plant in 2009 and a Windsor transmission plant in 2010. Ford also plans a 10 percent cut in white-collar, salaried positions. In total, over 4000 direct jobs will be lost. If the unemployment rate and ..
Which is true for a purely competitive firm in short run equilibrium?
Two hospitals want to merge. The price elasticity of demand is 0.20, and each clinic has fixed costs of $100,000. One clinic has a volume of 9,200, marginal costs of $70, and a market share of 3 percent. What are the total costs, revenues, and profit..
Why does the SRAS slope upward to the right. What exogenous force determines the overall position of this upward sloping curve on the graph? Show how this decision would affect the SRAS, price level and income level on your graph from the short run i..
The U.S. Department of Agriculture (USDA) administers the price floor for butter, which the 2008 Farm Bill set at $1.05 per pound. At that price, according to data from the USDA, the quantity of butter supplied in 2010 was 1.7 billion pounds, and the..
A monopoly faces a demand curve (in $) for its branded product described by: Fixed costs are equal to $10. There is no other cost information. What is the profit maximising price and quantity produced?
R/C Aero Specialties produces unmanned aerial vehicles (UAVs), or drones, for commercial and recreational uses. The company has updated its design to compete with Fuji Enterprises, but its production costs for this new model require a retail price th..
There are 300 purely competitive farms in local dairy market. Of the 300 dairy farms, 297 have a cost structure that generates profits of $24 for every $300 invested. What is their percentage rate of return? The other two dairies have a cost that gen..
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