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1. Draw a monopolistic competitor in long run equilibrium. On the same graph draw the long run perfect competition equilibrium.
2. Describe why a monopolistically competitive market cannot reach the same equilibrium as perfect competition in the long run.
suppose that marginal utility of good a is 4 times the marginal utiltiy of good b but the proce of good ais only 2
The employees at Warren Manufacturing Company are unionized. As minimum requirements, the union members insist on keeping a work force of at least 300 workers, and accepting an hourly wage rate of no less than $8. Beyond those minimum requirem..
You just inherited $10,000. while you plan to squander some of it away, how much should you deposit in an account earning 5% interest per year if you'd like to have $10,000 in the account in 10 years.
what effect should each of the following have upon the demand for portable music players in a competitive market?
If boyh bid the same amount, the $100 is split evenly between them. assume that eac of them has only two $1 bills on hand, leaving three possible bids: $0, $1,or$2 Write out the payoff matrix for this game and then find it's Nash equilibrum
different products have different price and income elasticities. heart medication for example is price inelastic and
the pear computer company just developed a totally revolutionary new personal computer. it estimate that it will take
The ABC Company deposited $100 000 in a bank account on June 15 and withdrew a total of $115 000 exactly one year later. Compute:
The main difference between perfect competition and monopolistic competition is, rices under an ideal cartel situation will be equal to
In 2005, The economist reported that France's real exchange rate had increased relative to Germany's real exchange rate during the preceding two years. How can this be true if both France and Germany used the euro as their currency.
The Principal-Agent Problem: You are hired as a management consultant to provide recommendations on how to stimulate productivity of the manufacturing firm that produces Printer Cartridges. Your 50% of the variable salary (consulting fee) is direc..
If the ce If the of Pepsi-Cola increases from 40 cents to 50 cents per can and the quantity demanded decreases from 100 cans to 50 cans, then, (according to the arc price elasticity formula,the same formula used in class).
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