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Explain in words and graphically how consumer surplus, producer surplus and total welfare changes when minimum wage is removed. In your explanation please interpret the components of the change in consumer surplus, producer surplus and total welfare. In other words what do these parts represent?
In the absence of a binding and enforceable agreement, determine the dominant strategy for AMC. c. Determine the dominant strategy for SAMI. d. If the two firms can enter into a binding and enforceable agreement, determine the strategy that each fi..
Explain what is meant by the idea of an “optimum-size firm.” What forces would make firms in one industry on average larger than firms in another industry (e.g. grocery stores are generally much larger than beauty parlors)?
If the price per visit is given to be $25, at what level of visits will the maximum profit position be? What are the profits at this level? What is the quantity supplied?
What are examples of a perfectly/purely competitive firms that you have recently purchased a product from in the last couple of months? Explain how you relate your answer to the market characteristics.
Which of the following will make crowding out caused by government borrowing more severe? Crowding out could cause: If the MPC = 0.80 and taxes are increased by $1,000, the Keynesian model predicts the change in equilibrium GDP will be: Government sp..
Interview 10 people on "What type of breakfast do you prefer," and prepare a basic research report. Conclusion: Discuss your findings, state whether your initial hypothesis was correct or not, and provide a rationale for your answer. Also, provide de..
A purely competitive wheat farmer can sell any amount of wheat he grows for $20 per bushel. He is using a fixed amount of capital (tractors and plows) and he and his sister are the only workers. Thus cultivating each additional acre of land exhibits ..
1. What are the perfect market assumptions? 2. Explain whether the following statements are true or false. In each case, provide justi?cation for your answer:
For a company whose target capital structure calls for 50% debt and 50% common equity, which of the following statements is CORRECT?
During 2009, the demand for LCD televisions appeared to be falling. At the same time, some industry observers expected that several smaller television manufacturers might exit the market. Use a demand-and-supply graph to analyze the effects of these ..
Explain how each of the following affects consumption demand: a) The expectation is that a prolonged expansion will occur in the next year. (2) b) Stock prices rise sharply. (2) c) The price level falls by 10%. (2) d) The interest rate on consumer lo..
Construct a choice table for interest rates from 0% to 100%. If the MARR is 10%, which alternative should be selected? Can you please explain how to solve the problem on excel
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