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1- What are the characteristic that a firm faces in a perfectly competitive market ?
2- What methods would they employ to maximize profits?
With your own words. Original one not copy paste thank you.
Suppose all your friends offered to help wash your car. Would marginal physical product of labor decline as more friends helped? Why or why not?
The cost function for Lilac Ltd.is given by TC = 500 + Q^2. It sells output in a perfectly competitive market and other firms in the industry sell at a price of $100.
Please explain 5 types of elasticity such as relatively inelastic, relatively elastic, unitary elastic, perfectly elastic, or perfectly inelastic short and in own words.
Identify the marketplace structure of the electronics retail sales industry. Discuss possibility of short-run and long-run profits in that industry.
Consider a scenario where discouraged workers are now included in the official unemployment rate during a recessionary period in the economy - Discuss and explain how including discouraged workers in the official unemployment rate would affect both..
Which one of the following events could not have caused a shift from isoprofit line 1 to line 2? a. The employers share of the payroll tax rate has increased and the limits expanded. b. Firms structured fringe benefits so as to increase worker produc..
Illustrate what rate of return will the investor receive after the effect of inflation has been accounted for.
How the country's policies influence its productivity growth? How the country's financial system is related to key macroeconomic variables? How your organization can reduce the risk they would face in relocating?
NIKE Co.'s cost allocation and product costing procedures follow activity-based costing principles. Activities have been identified and classified as being either value-adding or non value-adding as to each product. Which of the following activiti..
If a cinema could sell all its seats to adults in the evenings at the end of the week, but only a few on Mondays and Tuesdays, what price discrimination policy would you recommend to the cinema in order for it to maximise its weekly revenue?
a) Illustrate the current equilibrium in a two-part diagram with the entire market in one part and an individual pretzel stand in the other. b) Now the city decides to restrict the number of pretzel-stand licences, reducing the number of stands to..
Best Buy and Circuit City are competitors in the customer electronics market. Both have relatively large margins on plasma TV's. Essentially,
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