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-Graphically represent and explain the demand, total revenue, marginal revenue and average revenue curves of a price-taking firm.
-Graphically represent and compare the demand curves of a monopoly and monopolistic competitive firm.
-Graphically represent normal profit. Explain why normal profit is the minimum required for a firm to keep operating in the long run.
-Why is a perfectly competitive market structure unlikely to exist in the real world?
-Why does the share market closely reflect a perfectly competitive market?
Anti-trust Measures. Identify a particular market that has experienced government anti-trust efforts or you think should have antitrust efforts. Analyze what type of market structure was in existence at the time of the anti-trust measures or is in cu..
Consider a monopoly that faces a market demand function D(p) = 200 − 2p, where p is the price that the monopoly charges, q is the amount demanded by the consumer. The monopoly has constant marginal cost MC = 20. Suppose the monopoly can do perfect pr..
Fed Up documentary focuses on the causes of obesity. The film suggests that the main causes of obesity are processed foods and added sugars.
q1. why might you expect to see flat royalty payments in home-based franchises but revenue-based royalties in
Axis inc. invested$20,000 and $30,000 respectively, on two investments that yielded a combined rate of return of 10% compounded for five years. If the rate of return on the first investment was 12% what is the return the company obtained on the secon..
The environmental protection agency of a county would like to preserve a piece of land as a wilderness area. The current owner has offered to lease the land to the county for 20 years in return for a lump-sum payment of $1.1 million, which would be p..
If a monopolist can represent the demand of its product as Q = 100 - P and its marginal revenue from sales as MR = 100 - 2Q, where Q is the quantity of production and sales and P is a uniform price charged to each customer, and has a constant margina..
Assume that the firms form a cartel to maximize total industry profits. Determine the optimum output as well as selling cost for each firm.
Critically evaluate 'Comparative Advantage' trade theory. Discuss the pros and cons of a country wanting to protect its domestic industries against foreign
If the population of Argentina was 26.5 million in 1960 and the average population growth rate is 0.6 percent per year, then Argentina's population would have been about ______ in 2000.
Ted Baxter runs a small, very stable newspaper company in southern Oregon. The paper has been in business for 25 years. The total value of the firms capital stock is $1 million, which Ted owns outright. This year, the firm earned a total of $250,000 ..
How did Adam Smith justify the new economic system which was later to be called capitalism? Explain the difference between a movement along a demand curve and a shift in the demand curve. Briefly explain and graphically present four factors that can ..
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