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Consider the following demand and supply configuration where demand and supply at each price is total demand/supply at those prices.
Demand
Supply
Price
Quantity
11
1
2
10
3
8
4
5
7
6
9
Determine the competitive equilibrium price and quantity Price ____________ Quantity ________________
At the competitive equilibrium: Consumer surplus is ___________. Producer surplus is _________________
If producers in this market were consolidated into a single firm then the monopoly price would be _______and quantity would be___________. Economic efficiency would be ___________.
How do the five competitive forces in Porter’s model affect the average profitability of the industry? For example, in what way might weak forces increase industry profits, and in what way do strong forces reduce industry profits?
This final case on Theo Chocolate illustrates strategic decision making that begins with the fundamental mission of the enterprise and then continues to permeate decision making throughout the company. How do the theoretical controversies regarding r..
Diversification is one strategy in portfolio management to spread the normal market risks associated within the enterprise. Applying this to property management, can you cite examples of local or multi-national companies operating in the country (Phi..
Some economists say that government should instead provide drugs for people in need, how could this be feasible and rational? Is it morally right?
Wagner Tool produces output according to Q = 2K1/2L1/2, where K is the amount of capital used and L is the amount of labor employed.
Discuss a instance in your life in which you used game theory to earn or save money. Did you realize you were implementing game theory in the situation
Snoopy and Woodstock both need to have some letters typed and some carpets vacuumed. Calculate the opportunity costs of both activities for both Woodstock and Snoopy. Demonstrate that they could both be made better off by trading tasks and specializi..
What is the Corporate Average Fuel Economy (CAFE) program? What are the benefits of having CAFE standards? What are its limitations? Why is the program popular despite the limitations?
1. Do you think that the performance improvement program would have been successful in motivating the underperformers? Give reasons for your answers.
Suppose that trade off between work N and leisure L for a constant level of utility of 200 is expressed as u(n, L) = NL or 200= NL the budget constraint is l =24-w/P)N for a wage rate of w/P=4 determine the number of our devoted to work and leisure
Machine A costs $20,000 to purchase and is worth $5,000 in 6 years. Machine B costs $10,000 to purchase and is worth $2,000 in 4 years. Assume that these machines are needed for 24 years and can be repurchased at the same price in the future. (use 10..
When a company needs to finance its activities it can do it in two ways, using either debt or equity. There are many options in using both of them
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