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Describe in detail a perfectly competitive market structure. Do you think such a market structure exists? Give an example of an actual market structure that resembles a "pure competition" model.
Briefly discuss China’s journey on its economic achievement from pre-independent until today.
A geothermal heat pum can save up to 84% of the annual heating and cooling bills of a certain home in the norotheaster US. In this region, the yearly cost of conventionally heating and cooling a 2,000 square foot house is about $2,900. The maximum am..
A local cell phone monopoly faces the following monthly inverse-demand for lines from a typical family: P = 100 – 20Q. The total cost to the monopoly is C(Q) = 20Q. This implies that the marginal monthly cost to the monopoly is $20 per line. (Please ..
Suppose a linear demand function is estimated for good x as, Qd = 100 – 4*Px + 6*Py + M. where Px = $4, Py = $2, and M =10. M is the average income of consumers, measured in thousands of dollars. What is the price elasticity of good x?
Consider the two-period consumption model of borrowing and saving. Suppose Claire has an income of m1 today and m2 a year from now and can borrow and lend at the interest rate r. She chooses consumption levels c1 and c2 given her well-behaved prefere..
Explain with a graph and a verbal explanation how a ticket price ceiling placed on a monopoly sports franchise (that does not sell out its games) may actually lower ticket prices and raise attendance.
clearly show on youre graph the old equlibrium price and quantity. Can you tell for certain whether the new equlibrium price will be higher or lower than the old equilibrium price?briefly explain.
Anthony is considering the purchase of used car. The price, including the title and taxes, is $9,530. Anthony is able to make a $2,530 down payment. The balance, $7,000, will be borrowed from the Credit Union at an interest rate of 9.25% compounded d..
Verify all values and quantities computed in the discussion. Now suppose that intermediaries come from a competitive market with an equilibrium price of $8 per unit for their services,
In January of 2007 online movie rental service Netflix introduced a new feature to allow customers to watch movies and television series on their personal computers. Netflix competed with many video rental retailers, which added online rental service..
Illustrate what is each firm's equilibrium output and profit if they behave noncooperatively. Use the Cournot model. Draw the firms' reaction curves and show the equilibrium.
The Chinese renminbi
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