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Please help describe profit maximizing decision of pure monopolist firm and compare it to the profit maximizing decision of the firm in a purely competitive market and a monopolist firm in the competitive market.
Why might some people claim that the breakfast cereal industry is monopolistically competitive but that the automobile industry is an oligopoly? In both cases, about eight to ten firms dominate the industry.
Cost-Plus Pricing. Wendel Stove Company is developing a "professional" model stove aimed at the home market. The company estimates that variable costs will be $2,000 per unit and fixed costs will be $10,000,000 per year.
Compute the unit price if the ventor sold 200 CDs. Compute the demand curve for CD. Calculate the fixed and variable costs. Calculate the break even quantities (number of CDS).
Provide the Gilbert's choices of both Bordeaux and yogurt under the following circumstances (Consider each separately):
Employ an isoquant and isocost diagram and words to show how firms will respond to the decrease in the wage rate. Be sure to identify the short run scale effect and the long run substitution effect.
Do you agree that the only way to raise equilibrium quantity is to raise supply and demand together? Why agree or why not agree?
How would you know demand has increased? (What is the first piece of information which would lead you to conclude that demand has increased?)
Describe why the profits of such firms tend to increase when there is the excess supply of the inputs they employ in their production process.
Compute real GDP for 2004 and 2005 using 2004 prices. By what percent did real GDP grow? Compute the value of the price index for GDP for 2005 using 2004 as the base year. By what percent did prices increase?
"Does the economic bailout of Spain and Greece spell the beginning of the end for the European Monetary Union (EMU)?"
What is the cost of using this machinery for one year? How would your answer be different if the machinery had not yet been purchased?
You were recently hired to replace the manager of the Roller Division at a major conveyor manufacturing firm, despite the manager's strong external sales record.
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