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I. Price discrimination is selling a product at different prices when the underlying cost is the same. Describe the conditions necessary to price discriminate.
II. Complete the following problem: ( A manager of a monopoly firm notices that the firm is producing output at a rate at which average total cost is falling but is not at its minimum feasible point. The manager argues that surely the firm must not be maximizing its economic profits. Is this argument correct?).
III. Monopolies are price makers and as such should be able to set price where they will make a profit. Is this statement true? Why or why not?
Differentiate the real exchange rate and the nominal exchange rate and describe two reasons why purchasing power parity does not hold for all goods and services.
Select 6-10 indicators that are of particular relevance to your firm and explain why. Next, outline a strategy for how the firm should respond to the information provided by the economic indicators with the goal of maximizing revenues in the years..
A perfectly competitive firm encounters the following monthly costs and price. What is the fixed cost of this firm? What is the optimal output of this firm?
A South America nation with fixed exchange rate system has close economic ties with USA symbolized through extensive trade and unrestricted flow of capital between two nations.
Describe three ways in which the Federal Reserve can change the money supply.
Do you think the demand for mangoes is price elastic or price inelastic? Explain your answer based on the determinants of price elasticity of demand.
how does charging the monopoly a specific tax of 10 per unit affect the monopoly optimum and the welfare of consumers, the monopoly and society?
Describe the difference between short run and long run as they are used in economics. Differentiate between Economics of scale and Diseconomies of scale.
Demand and supply schedules
Developing a regression model with Sample Regression Model
Calculate the price that the Plaza Movie House will charge for admission to movies in the long run and what will be the number of patrons per day at that price?
Calculate John's maximum daily profit and what is John's supply curve? Mathematically represent and then explain.
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