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Find a purely/perfectly competitive industry. State why this industry is a purely competitive market. Give examples as to why. Please use the dropbox to submit your extra credit assignment.
Output is y=(x1^1/2)*x2. The total cost equation is c=3x1+2x2 where w1=3 and w2=2. At the price of the output is p=6 what is the profit maximizing level of x2?
q.suppose two individuals smith and jones each have 10 hours of labour to devote to producing either ice cream x or
People holding money in anticipation that bond yields will rise is an example of
Describe the demand curve for this product using the following data.
An auto-part manufacturer is considering establishing an engineering computing center. This center will be equipped with three engineering workstations that each would cost 25,000 and have a service life of five years.
Ann’s preferences are represented by a utility function UA(x). Suppose one were to (coloquially) say that Carol has more “sensitive preferences” than Ann: her utility function UC (x) satisfies UC (x) = 2UA(x). Prove that for every choice set, Ann and..
Illustrate what effort level would maximize profit per period. Illustrate what is the maximum profit per period in this fishery.
Give a Share of GDP (percent), such that C=69.9, I=19.0,G=15.3, X-M= -4.5. If consumption in the changed to 43 while government expenditure and net exports remained constant, what would happen to investment as a share of GDP ?
Assume the average whole price of a wireless phone is curently $50. Do you think this company should enter the market.
The price of good A is Eur 20,the quantity demanded is 500 units at yhis price,and price elasticity of demand is Ep=1,8,then a reduction in price of the good by eur 5 would increase the total revenue of seller by
Describe demand and marginal income curves faced by a industry in a purely competitive market. Are they different from those faced by a industry in oligopolistic competition.
If mortgage rates rise from 5% to 10% but the expected rate of increase in housing prices rises from 2% to 9% , are people more or less to buy houses. IRs was lower in the mid-1980s than in the late 1970s, yet many economists have commented that real..
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