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During your next trip to the supermarket (or you may need to make a special trip) find two examples of different goods for which the market is oligopolistic. Make certain that you have chosen a ‘good' and not a brand name. Remember that several brand names compete in a market. List all the brand names (or at least four brands if there are dozens) and the parent company for each brand name (check the package carefully so that you don't confuse brand names with the actual producer.) For each good, what is your evidence that this market is oligopolistic? (number of producers; shelf space give to each one; identical pricing.)
Consider a 2-company Cournot model. Let ci (i=1,2) denote firm i's cost per unit of output produced, and suppose that c1 > c2 .
Illustarte what are the main costs of production for the good or service your organization supplies. Breakdown the costs from the largest to the smallest.
Economists who work for thegovernment are often called upon to make policyrecommendations. Why do you think it is important for thepublic to be able to differentiate normative statements frompositive statements in these recommendations?
Would the purchase of bonds by the Bank of Canada in 1.a) increase or decrease the potential for money creation? Explain in less than 5 lines.
Demand for refrigerators is often explained as cyclical and very sensitive to refrigerator prices & interest rates. Given these characteristics, explain the effect of each of the following in terms of;
A perfectly competitive industry is initially in a short-run equilibrium in which all firms are earning zero economic profits but are operating below their minimum efficient scale. Explain the long-run adjustments that will create equilibrium
How do you explain and predict hospital behaviors if using the utility-maximizing
You are to develop a simple database that will store notebook specification including price foreachnotebook using Microsoft Access 2003/2007/2010/2013.Followtheinstructions below.
Assume that the unemployment benefits provided by the private sector (firms) are increased permanently, please answer the following questions.
In each equation, Q denotes the number of travelers of each type who stay at the hotel each day, and P denotes the price of one room per day. The marginal cost of serving an additional traveler of either type is $20 per traveler per day.
global positioning units for cruise missiles by the government. new chalk by a local school board.
Assume the effect on the marginal expenditure curve and compare the pre- and post-minimum wage equilibria.
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