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Restaurants compete on quality of food as much as price. Product differentiation is a key element of the business. There are relatively low barriers to entry in setting up a new restaurant.
Qa. Why and how important is product differentiation for firms operating in monopolistic competition? How do these firms set price and output to maximise profits?
Qb. Can a monopolistic competitive market structure lead to economic profits in the long run? Use an appropriate diagram to clearly explain your answer?
The CPI for 2009 was 195 but i know that the imfataion rate couldn't habe been as high as95% in 2005". In your answer carefully explain what the value of CPI means.
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Kleen-Flo tumbler industries fall under Bureaucratic culture, where accountabilities are approached and divided systematically
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The Taxpayer Relief Act of 1997 created the Roth IRA, which permits qualifying individuals to make after-tax retirement contributions of up to $2,000 annually. Contributions to a Roth IRA are not tax-deductible, but no taxes are paid on earnings gene..
Other things equal what effects would each of the following have on aggregate demand or aggregate supply? In each case use a diagram to show the expected effects on equilibrium price leevel and lefe of real output. a. Reduction in the economy's real ..
You are the manager of a financially distressed company with $3.1 million in debt outstanding that will mature in three months.
A high-tech water filter costs about $71 and can filter 7200 ounces of water. This will save you purchasing two 20-ounce bottles of filtered water every day, each costing $1. The filter will need replacing every six months. How much will you save in ..
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