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"Question Seven
(i) Suppose that DryMax is the only drycleaner in town, and it determines that men and women have different demand functions for drycleaning services. It determines that the demand functions are as follows:Qw = 24 - PwQm = 24 - 2Pmwhere Pw and Pm are the prices it charges women and men respectively. Assume that the marginal cost and average cost for both groups is $6.
a. Find out the total revenue and marginal revenue functions for men and women.
The 2 firms form a cartel & arrange to split total industry profits equally. Under this cartel arrangement, they will maximize joint profits.
The difference between the cost to produce the CDs and the price you paid for them spending $30 on two new CDs spending $30 on dinner and a movie with your friends.
If one defines incremental cost as the change in total cost resulting from a decision, and incremental revenue as the change in total revenue resulting from a decision, any business decision is profitable.
Find out the aggregate economic effects of the combination of the shock to the economy and the government's response to it.
Pick an industry (personal computers, autos, etc.) and elucidate how it would function under market conditions of perfect competition, monopolistic competition, monopoly, and oligopoly. Of these, describe why you think one benefits consumers more ..
Think of any financial innovation in the past ten years
Assume that equilibrium real GDP is 800 billion, potential gdp is 900 billion, the mpc is .80, and the mpi is .40 . What is the size of the GDP gap.
McDonald's has enough time to hire or lay off workers but it does not have enough time to expand its kitchen or add an additional seating area.
Why is monitoring and controlling the project cost important for the success of the project.
Their banks are holding back credit so it is harder for businesses to invest and for consumers to spend
Which of the following institutional arrangements is most likely to promote growth.
Why do you think the FED evaluates the money multiplier when making decisions with regards to the money supply
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