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Describe the characteristics of Oligopoly.
What are some industries that behave like oligopolists?
Who are the competitors in that industry and how do they behave?
Use the AS/AD framework to depict an economy that is a) in equilibrium, and b) operating at full employment. determine in which direction the affected curve(s) shifts. draw in the shifted curve(s)—and label it (them) explicitly. Is the new Unemployme..
Compute the corresponding Compensating and Equivalent Variation. Illustrate your answers graphically. Compute the compensating demands for goods X and Y. Illustrate your answers graphically.
Diesel Locomotive are extreamley durable. The price of a new locomotive is $450,000 and if it is overhauled every 15 years at a cost of $75,000 it can be operated indifinetly. Annual operating cost (fuel, labor) are estamated at $150,000 a year. What..
Provide At least two products for each country that have provided China, the US and Germany an absolute advantage in trade.
The Publishers Clearing House is awarding a prize of $5000/week for the rest of your life that can then be transferred to someone you nominate (and so on). How much does the Publishers Clearing House has to deposit now (P) if yearly interest (APR = n..
Explain how would you show this with a simple supply and demand diagram. If this firm was monopolistically competitive with a "u-shaped" cost structure, how would you show the results of this firm's attempt to increase its profits.
Mr. and Mrs. Ward typically vote oppositely in elections and so their votes “cancel each other out.” They each gain two units of utility from a vote for their positions (and lose two units of utility from a vote against their positions). Suppose Mr. ..
A firm is hiring 9 workers at $8.00 per hour. In order to hire an additional (10th) worker it must raise the wage it pays (to all workers) to $8.50 per hour. The marginal factor cost to the firm of hiring the 10th worker is
ALS ( labor hrs per unit to produce sausage) = 1 hr per pound. Find hourly wage rate of Home's economy.
Modelling the Relationships between Electricity Consumption, Financial Development, and Economic Growth in Nigeria from 1980 - 2015
Define, describe and use an example for the following terms: Diminishing Marginal Returns, Implicit cost, Marginal revenue, Price ceiling, Price takers. Describe the type of elasticity that consumers would hold with a Rolex watch and a generic bottle..
onsider a 3*3 matrix in which each entry is either 0; 1 or -1. Add up the sum of the three entries in each row, column and diagonal and form a list of the sums. Give an explicit example of such a matrix and the corresponding list. Choose 16 distinct ..
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