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Find the Herfindahl index for an industry composed of (a) three firms- one with 70 percent of the market, and the other tow with 20 and 10 percent of the market, respectively; (b) one firm with a 50 percent share of the market and 10 other equalized fims; (c) 10 equal - suzed furns
elucidate how income changes along demand curve and why a local builder seeking to maximize income on a small site would be interested in elasticity of demand.
some games of strategy are cooperative. One example is deciding which side of the road to drive on. It doesn't matter which side it is, as long as everyone chooses the same side. Otherwise, everyone may get hurt. Is there a Nash equilibrium in this g..
Explain which of the two classmates would you prefer as a partner. Would he also want you as a partner.
Graph Mary's marginal cost curve using the orange line and her marginal revenue curve using the blue line
Illustrate what is the equilibrium price and equilibrium quantity. What would you expect to happen to price.
The three families are considering putting in streetlights on Main Street and are trying to describe how many lights to install. The table below shows each family's willingness to pay for each streetlight.
A second firm is considering entering this market. What variety should it offer. What prices will the firms charge.
a rich man has 1,000,000 in the bank earning 7% interest. He plans to give away 100,000 at the end of the year and to increase his gifting by 10% each year there after. How long with the million dollars last?
Illustrate what would the benefits of each action be (besides emissions reduction). Illustrate what would the costs of each action be.
The General Manager (GM) of a car dealership is working on a three year business plan. The GM expects inflation to rise over the next three years.
Illustrate which offers the higher expected return. If you expect the rate of inflation to be 3% over the next year, which is the better investment.
As a result, price of Domino's pizzas fell from $8 a pie to $2 a pie following week. Quantity of pizzas demanded soared following week from 1 pie an hour to 100 pies an hour. What was price elasticity of demand for Domino's pizza.
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