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Describe in detail one factor which makes an industry a competitive industry and provide a real life example of this factor at work. Be sure to concentrate on just this one factor and do not discuss others in your initial post, follow-up posts are no problem
In the imperfect competitive market of jeans, Lean Jeans, Inc., recently offered rebates of $1 off the regular $50 price. Quantity sold jumped 4 more jeans from the previous 100 figure the previous month.
Estimate the linear demand equation
Use arc-approximation formula to compute the price-elasticity of demand coefficient of the firm's product demand between the (quantity, price) points of (100, $20) and (300, $10).
How does the demand curve faced by a perfectly competitive firm differ from the market demand curve in a perfectly competitive market? Explain.
Consider the problem of maximizing the profit function (pi)= pY -wL subject to the production function Y= L to the alpha (as the exponent) where alpha E (epsilon) (0,1).
The marginal and average cost curves of taxis in metropolis are constant at $.20/mile. The demand curve for taxi trips in metropolis is given by P = 1 - .00001q, where P is the fare, in dollars per mile, and Q is measured in miles per year.
The government decides to tax cookbooks because they feel that they encourage overeating and can lead to health issues, like obesity and heart disease. Answer the following: in 600-800 words
Price elasticity of demand, Income elasticity of demand and Cross elasticity of demand of toyota corolla car.
Evaluate arc price elasticity of demand between prices of $4 and $6 and compute the point price elasticity at the price of $6 state the significance of the coefficients.
You know from data gathered on the widget market that market demand has recently increased and market supply has recently decreased. As manager of the facility, what decisions should you make regarding production levels and pricing for your widget..
Mention two economic choices you had to make with in last week. Alfred Marshall said in 1890s, "economics is the study of man in ordinary business of life." You must examine one or two of these choices in terms of alternatives you gave up.
What are some of the ways these curves shift and what is the corresponding change to the point of equilibrium?
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