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In a perfectly competitive industry, the price of good A is $2. If a firm in this inudustry decides to increase its price to $2.50, it will:
a. experience a decrease in profits of $.50 per unit.
b. lose some of its customers in the market.
c. realize an increase in profits of $.50 per unit.
d. be unable to sell any quantity of good A that is produced.
e. be able to increase the quantity sold.
Define adverse selection in a general way and then provide a more specific definition of adverse selection in an insurance market and explain how adverse selection manifests itself and becomes a problem in insurance markets.
A consumer must divide $600 between the consumption of product X and product Y. The relevant market prices are Px = $10 and Py = $40. a. Write the equation for the consumer's budget line. b. Illustrate the consumer's opportunity set in a carefully la..
Further assume that they are not able to ‘collude' on price and quantity of premium digital channel subscriptions to sell. How much profit will each firm earn when this market reaches Nash equilibrium.
The state if Arizona decided to boost its own minimum wage rate by $1.60/hr. This pushed the wage rate earned by Arizona teenagers above the equilibrium wage rate in the teen labor market.
determine whether either or both of the mergers should be allowed. Write up you analysis as a recommendation to the Federal Reserve Board, which will use your analysis to make a decision. Be sure that your answer includes the numerical considerati..
According to a customer, a Harley-Davidson motorcycle can make one feel like "the toughest, macho guy on the block." Harley-Davidson promotes its motorcycles with images of independence, freedom, and power. Harley-Davidson has created a(n) ________.
Suppose the market demand function (expressed in dollars) for a normal product is P = 480 – 4q and the marginal cost of producing it is MC = 2q, where P is the price of the product and q is the quantity demanded or supplied. How much would be supplie..
q.following investments strategies you are choosingi. invests 200 in stock a. stock a costs 20 share. predictable
If Projects B and G are mutually exclusive, explain how would that affect your overall answers. That is, which projects would you accept in spending the $80,000.
You decide to buy 1,600 shares of stock at a price of $64 and an initial margin of 50 percent. What is the maximum percentage decline in the stock before you will receive a margin call if the maintenance margin is 35 percent?
What happens to the equilibrium prince and quantity in each markets when the government reduces the supply ofgoods with elastic demand.
Elucidate the common kinked-demand model. In the oligopolist's marginal-revenue curve, elucidate the reason for gap. In this model explain how does price rigidity in oligopoly.
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