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Question1. Discuss and explain the major barriers to entry into a industry. Describe how each barrier can foster monopoly or oligopoly.
Question2. What effect would a rule stating that university student must live in University dormitories have on the price elasticity of demand for dormitory space? What impact might this in turn ave onroom rates?
Determine the trade volume necessary for PBI to reach a target return of $7,500 per month for a typical office. Determine and interpret the elasticity of cost with respect to output at the trade volume found in part A.
In 2005, APEX received a tax credit for production of its solar panels through the US Department of Energy's Energy Efficiency and Renewable Energy procurement plan.
Find out the market structure (competition, monopolistic competition, oligopoly, and monopoly) that best characterizes the infant formula industry.
Assume the normal production process for beet sugar uses high sulfur oil for fuel and releases two units of sulfur dioxide to the air for every ton of beet sugar manufactured.
Describe the effect of increase from 1998-1999. How would the increase in demand affect the price? How would the price effect depend upon the price elasticity of supply? Please describe how. (Explain the illustration instead of actually drawing it)
Identify the government department that compiles the statistics on unemployment. About how many business firms in the United States are proprietorships?
Office building maintenance plans call for stripping, waxing, and buffing of ceramic floor tiles. This work is often contracted out to office maintenance firms, and both technology and labor requirements are very basic.
Based upon marginal revenue or marginal cost analysis, explain how output and price are determined in monopolistically competitive markets.
The box industry was perfectly competitive. The lowest point on long run average cost curve of each of identical box producers was dollar four, and this minimum point occurred at an output of 1,000 boxes every month.
Suppose the market shares of the six largest firms in the industry are 12 percent each. Compute the six-firm concentration ratio and Herfindahl-Hirschman index for this industry.
Given a 15% raise in a good's price and a 25% decrease in quantity demanded for good by consumer, which of the following types of elasticity best describes the demand curve for the consumer?
Assume the firm can produce 5000 units of out put by combining its fixed capital with 100 units of labor and 450 units of raw materials. What are the total cost and average total cost of producing 5000 units of output?
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