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1. Market demand is given by P = 140 -Q. There are two firms, each with unit costs = $20. Firms can choose any quantity. Find the Cournot equilibrium and compare it to the monopoly outcome and to the perfectly competitive outcome. Why aren't the latter equilibrium of the market game?
2. What is the outcome of the oligopoly in number 7 as the number of firms grows large? Why will this number of firms grow large? Is this outcome a tragedy?
Explanation and Analysis Identify changes in market conditions and their effect on equilibrium price and quantity for the following events
Assume 200 videotapes are rented when the price is $4. If the price drops by $.80, the number of videotapes rented increases to 220. Which of the following statements about the non-arc price elasticity of demand is true.
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By mid-2009, U.S. investment expenditure had fallen to $1.5 trillion and the real interest rate had risen to 4.5% per year. What caused the collapse of investment and the rise in the real interest rate?
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How much the person should get? And is it taken from any person who works in US? My country is paralyzed to impose this tax due to oligarchs heavy influence. I just wanted to gain some knowledge.
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