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The Theory of the Firm, Labor Markets, and Imperfect Information
1. Write three to four (3-4) page paper in which you: Discuss what is "monopolistic" about monopolistic competition and the difference between perfect competition and monopolistic competition.
2. Movie theaters charge differing prices to adults, children, and students; additionally, most theatres charge lower prices for afternoon showings. Discuss this pricing strategy and how it can maximize profits for the movie theater.
3. When you apply for an insurance policy, such as life insurance or health insurance, the insurance company will require you to get a physical examination. The results of the physical exam are shared with the insurance company. Explain why insurance companies may require applicants to receive a physical exam using the concept of adverse selection.
Include three (3) external peer-reviewed sources to support your position.
Explain the exports effect of this change in the exchange rate.
Determine the profit-maximizing average monthly production capacity for DermaPlus for each of the possible reference-based prices identified by the consultant. Estimate the expected monthly profit in each case.
A company is considering purchasing a copy machine. The information is given : Investment cost $30,000 Expected life 5 year Market salvage value -$2,500 (negative means that there is a net cost to dispose of an asset) Annual receips $23,500 Annu..
The turkeys require 4 hours of labor time. The house can grow a maximum of 20 broiler birds, and a maximum of 100 hours of labor are available. Formulate this prob- lem as an LP model to maximize the total profit.
Pollution is a part of economic life, and, in recent years, it has become a very important part of many businesses. A factor of demand for products and services is related to the government and to the laws the U.S. Congress enacts.
Think that the following data for a simultaneous move game. If you advertise and your rival advertises, you each earn $5 million in profits.
Tuition costs are expected to increase at the rate of 8 percent per year. The first year's tuition is due 5 years from now and will cost $6,000. A fund is to be set up today to cover the tuition costs for 4 years in an account that will earn interest..
make a list of products and services which are least satisfactory and have shown the least improvement over time. how
retailers such as neiman marcus and rei have generous return policies. other retailers provide price-match guarantees
In 2005, hogs in the US were selling for $67 each, down from $75 a year ago. This was primarily due to fact that supply had raise during the period to 1.8 million hogs per week.
An automobile dealership offers to fill the four tires of your new car with 100% nitrogen for a cost of $20. The dealership claims that nitrogen-filled tires.
What is the difference between ordinal utility and cardinal utility? Explain why the assumption of cardinal utility is not needed in order to rank consumer choices.
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