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Distinguish between collusive and non-collusive oligopoly. Explain the following features of oligopoly.
a) Few firms.
b) Non-price competition.
Suppose a monopolist can purchase Labor at a price w = 36 and can purchase Capital at a price r = 25. The monopolist's production function is given by Q = L1/2K1/2. The demand facing the monopolist is given by P = 180 - 3Q. a) What is the Monopol..
suppose Arnor and Gondor are two very similar countries that started out with identical population, technologies, etc. except that Gondor has a much higher mortality rate due to a more hazardous geographical location.
Suppose the demand for a product is given by P = 40 4Q. Also, the supply is given by P = 10 + Q.? assume that there is a $10 per unit excise tax levied on the consumers of the product?
the short-run marginal cost curve for a typical firm selling in a perfectly competitive industry. The graph on the right shows current industry demand and supply.
Suppose a tax per unit output (per-unit tax) is imposed on the production of Q with the intent of making equal the market level of output and the socially efficient level. How high should that per-unit tax be? What is the gain in net social benefi..
Please put the quantity of Good X on the horizontal axis, and the quantity of Good Y on the vertical axis. Be sure to label your graph carefully and accurately. What is the slope of the budget constraint?
Mitchell Electronics produces a home video game that has become very popular with children. Mitchell's managers have reason to believe that Wright Televideo Company is considering entering the market with a competing product.
The population proportion of economists predicting growth of at least 2.5% in real gross domestic product. The variance of the sample proportion of economists predicting growth of at least 2.5% in real gross domestic product.
In the article, several people in this industry complain about thinner profit margins. Can the retail market survive with the current level of profits Do you expect there will be entry of more firms into the retail market
What aspects would you consider in preparation for her discharge and what can you tell her about Validation therapy? Give an example (either a conversation or situation) of when she can use this technique with her husband.
Unfortunately banks are reluctant to make loans to people who currently have low incomes, even if there is a good chance their incomes will be higher in the future. If people could always borrow as much as they want to, would you expect consumpti..
If the economy currently has a frictional unemployment rate of 2 percent, structural unemployment of 2 percent, seasonal unemployment of 0.5 percent, and cyclical unemployment of 2 percent, what is the natural rate of unemployment? Where is the ec..
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