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If the production function is Q=K^.5 L^.5 and capital is fixed at 1 unit, then the average product of labor when L=36 is?
What is the best way to work these?
Describe the effect of each of the following events on the market for labor in the computer manufacturing industry. Use graphs.
What are the advantages of the Herfindahl index over concentration ratios in measuring degrees of concentration in an industry? (b) What is the disadvantage of both?
Which of following industries would you classify as an oligopoly? Which would you classify as monopolistically competitive? Explain your answer.
Johnston production is the price taker which utilizes this cost structure in the short run:
Recognize three well-founded reasons supporting the potentially beneficial role for government intervention in the workings of private marketplace.
The hair stylist, LTD., is popular-priced hairstyling salon in College Park, Maryland. Given large number of competitors, the fact that stylist routinely tailor services to meet customer needs, and the lack of entry barriers, it is reasonable to s..
Why is it not surprising to find that in the oligopoly which sells basically undifferentiated product like chicken growth hormone all the firms change prices simultaneously, even if there is no explicit price fixing?
Assume that the price was 5% lower and all other factors do not change. How much more would you buy each year? Using this information, compute the own-price elasticity of your demand.
What key economic concepts underlie the employ of discount coupons by businesses?
Briefly list and elaborate on the factors that will be affecting the demand for the following products in the next several years. Do you think these factors will cause the demand to increase or decrease?
Describe the major characteristics of monopolistic competition and oligopoly.
Estimate the linear demand equation
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