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Quesiton: (Requires calculus) In the model of a dominant firm, assume that the fringe supply curve is given by Q = -1 + 0.2P, where P is market price and Q is output. Demand is given by Q = 11 - P. What will price and output be if there is no dominant firm? Now assume that there is a dominant firm, whose marginal cost is constant at $6. Derive the residual demand curve that it faces and calculate its profit-maximizing output and price.
assume that the required reserve ratio is 10. if the federal reserve buys a 10000 government bond from an individualin
Identify and explain some of the challenges that modernization theory faces When applied to Third World societies. What alternative theories have been promoted.
you have been hired as a consultant by your local mayor to look at the various market structures. your role is to
The demand in Japan for new automobiles is elastic and sensitive to market prices. Given that, describe the effect of each of the following on the quantity demanded or the demand for new autos in Japan
What are the relevance of economics to most business today?
When a baby is born with ambiguous external genitalia how long does it take to assign appropriate sex? How is the appropriate sex determined
the Dalai Lama's teachings on compassion what would change in your daily life? Is this level of compassion unrealistic or is it something to aim for?
Why would cash transfers typically be preferred by recipients over in-kind transfers? What are the pros and cons of each from a government perspective
Rent controls are found in cities such as New York and Santa Monica, California, where land prices are at a premium and the city is relatively built-out.
Give a brief summary of economic costs. In the short-run, why might a firm still operate even when there is a loss.
Analyze the optimum production yielding the greatest amount of profit by doing the following: Determine the number of cases of Brand X that should be produced, showing all of your work.
Downtown Music Stores Squeezed out of Business Music retailing is changing: Sony Music and Amazon are selling online, discount stores are selling at low prices.
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