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Assume that the book printing industry is competitive and starts in a long-run equilibrium.a. Draw a diagram describing the typical company in the industry.b. Hi-Tech Printing Company invents a new process that sharply reduces the cost of printing books. What happens to Hi-Tech's profits and the price of books in the short run when Hi-Tech's patents prevents other firms from using the new technology?c. What happens in the long run when the patent expires and other firms are free to use the technology?
Assume that in the perfectly competitive industry the equilibrium industry quantity is 10,000 units. Assume that the monopoly output is 5,000. For a 2-firm Cournot Oligopoly (N =2) known as a duopoly, what is the likely Cournot QUANTITY for the in..
In the early 1980's just as serious health effects were being noted regarding sugar consumption, Kellogg's changed the name of Sugar Pops to Corn Pops (the sugar content didn't change) and the name of Sugar Flakes to Frosted Flakes (still sugar co..
Research the economic costs involved in the conducting break-even analysis for good or service of your choice. Assess the factors involved in conducting the break-even analysis. Find out the conditions which might exist for the manager of this goo..
What is an "oligopoly" and why do they exist? Mention three or four oligopolies whose products you own or regularly purchase.
Sally is planning opening her own new beauty salon. She anticipates the following expenses per year, Furniture: $20,000 Additionally, Sally is withdrawing $34,000
An rise in the marginal propensity to will reduce the size of expenditure multiplier and therefore the IS-curve will shift to the
Discuss the potential risks of using Web 2.0 tools. Provide several examples. What are the benefits of "build-to order" to buyers and sellers? Are there any disadvantages?
Comment on the statement. Do you agree with the speaker? Explain. Use a graph to illustrate the answer indicating the firm's short-run cost structure
Assume you are a stock market analyst specializing in the stocks of theme parks, and you are analyzing Disneyland's stocks. The Wall Street Journal reports that tourism has slowed down in the US.
United States winter wheat production rise dramatically in 1999 after a bumper harvest. The supply curve shifted rightward; as a result, the value reduced and quantity demanded increased
Explain how GDP would return to equilibrium if it was above or below equilibrium GDP. Whenever there is change in spending, there will be a change in real GDP. Explain why this is so.
Two partners who owns IT Business Solutions, a company supplying specialist software, operate out of an office in Fourways, Johannesburg but have discovered a vacant office building close to Sandton City.
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