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Q. Fuji, Konica, Agfa, and 3M. From a technical viewpoint, there was little difference in the quality of color film produced by these firms, yet Kodak's market share was 67 percent. The own price elasticity of demand for Kodak film was -2.0and the market elasticity of demand was -1.75. Suppose that in the 1990's, the average retail price of a roll of Kodak film was $6.95 and that Kodak's marginal cost was $3.475 per roll. Based on this information, discuss industry concentration, demand and market conditions and the pricing behavior of Kodak in the 1990's. Do you think the industry environment is significantly different today? Explain.
A competitive firm that is profit maximizing pays a wage. The firm has started marketing its new product.
Sets out the aggregate demand and aggregate supply schedules in Japan. Potential GDP is 600 trillion yen. What is the short-run macroeconomic equilibrium.
Use supply and demand model to explain the dramatic rise in the price of a college education.
Explain each of the following using supply and demand diagrams, With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.
How many tickets to sell to maximize total welfare.
The Road Runner Club contributes money to Senator Sly's reelection campaign fund, and Senator Sly helps pass legislation to add more jogging paths across the state
The benefit of cutting down a forest is $1 million now. the environmental cost of that harvest is $10/year forever.
Numerous times in the lectures labelling the vertical axis as euro per $ and the initial supply and demand curves labelled with 12/07, Label this initial point as point A.
Explain how the short-run Phillips curve, the long-run Phillips curve, the short-run aggregate supply curve, the long-run aggregate supply curve, and the natural rate hypothesis are all related.
A business cycle fact is that real wages are pro-cyclical. Using the classical labour market as we have all semester, show and explain how the classical economists explained this business cycle fact.
What are the annual accounting costs for the firm described above? What are the annual explicit costs for the firm described above?
The government budget is balanced, with government purchases and taxes both fixed at $1,000. Net exports are $100.
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