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Explain how does one construct a linear (or other mathematical program) to solve a competitive or walrasian equilibrium problem. Specifically, choose prices and quantities over a number of periods, to minimise price times quantities, subject to meeting demand in all periods, no firm operating at a loss and, crucially, no firm making more profit by choosing a different set of quantities. To make the problem interesting, I think it is necessary for there to be a cost of capacity, in addition to a marginal cost of production, for each firm.
Elucidate how each of these implications have or have not been utilized in to company.
Assume that health insurance begins to cover hip replacement surgeries that everyone interested in getting a hip replacement has health insurance.
Now Assume the theater increases the number of its ads to 250. Should the theater increase its cost following this ad campaign.
Explain the relationship among the bowed out shape of the production possibilities frontier and the increasing opportunity cost of a good as more of it is produced.
Give some illustrations of managerial decision situations in that you think the linear programming technique would be utilize.
Depreciation in the value of the Japanese currency in relation to the US dollar does not allow the Japanese firms to sell more in the USA marketplace.
Explain how will the bank respond to the withdrawal. Suppose that the bank responds to insufficient reserves by reducing the amount of deposits it holds until its level of reserves satisfies its required reserve ratio.
Assumes that wheat producers lobby the government for a price floor also receive one.
Can you think of circumstances in which each industry would exhibit the same capital-labor ratio in both countries.
What is the average fixed cost of producing 4 units of output and What is the marginal cost of producing the third unit of output.
Illustrate what is the firm's profit maximizing output level. Is the industry in long-run equilibrium.
Illustrate what are the examples that producers take advantage of the internet to implicitly fix the prices.
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