Reference no: EM13153118
Why do authors (who are paid fixed royalties per book sold) and publishers (who are presumably profit maximizers) differ in their thinking about the best price for a book?
Diagram a monopolistically competitive representative firm in long-run equilibrium. Next, show what happens if the general level of demand for the industry is lower. Show immediate impact, intermediate impact, and final new equilibrium.
What is the relationship between total revenue and elasticity of demand? Prove this with some examples using numbers, i.e., make up some numbers for price and quantity along a demand curve and find both elasticities and total revenues that show the relationship between them.
In general, explain what an elasticity is (starting from the general formula).
Carefully explain the concepts of consumer and producer surplus.
Explain why some firms shut down when losing money while others remain in business. Also show this graphically.
Diagram a monopoly firm realizing profits (on a diagram using MC, ATC, AVC, P, etc.)
What is the optimality condition in the product market and why must it be so?
Graphically show deadweight welfare loss due to monopolies and then explain what it means. How can we see or feel this deadweight welfare loss?
Show why the monopolist's marginal revenue curve must be below the demand curve.
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Determine the amount of heat is released
: The value of ?Ho for the reaction below is -126 kJ. The amount of heat that is released by the reaction of 25.0 g of Na2O2 with water is ________kJ. 2Na2O2 (s) + 2 H2O (l) -> 4NaOH + O2 (g)
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Randomly chosen from taking act scores high marks
: What is the probability that a single student, randomly chosen from those taking the ACT, scores 21 or higher? What is the probability that the mean score x of a SRS of 50 students is 21 or higher?
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Ethical issues within the oil industry
: I am writing a research paper on ethical issues within the oil industry. I need 3 subtopics to write my essay on and have come up with the environment and public realtions.
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Use the selected firm or industry as the focal point
: Provides a background commentary on the cost structure and the level of competition experienced by your firm/industry. You must include demand and supply factors, fixed and variable factors/costs, price elasticity and the aims of the firm/industry..
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How can we see or feel this deadweight welfare loss
: Graphically show deadweight welfare loss due to monopolies and then explain what it means. How can we see or feel this deadweight welfare loss?
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Explain the concentration of hcl in a bottle were diluted
: The concentration of HCl in a bottle was determined as follows: •3.00 mL of the acid were diluted to 250.00 mL •102.40 mL of the diluted acid were titrated with 0.08212-M NaOH
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Explain how the reproductive variability of aphids
: explain how the reproductive variability of aphids might be an adaptation that allows them to survive very aggressive predation.
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Preparing journal entries and trial balances
: Prepare general journal entries for the following transaction of a new business called Pose for Pics. (please use Excel)
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Company total contribution margin problem
: Last year, Twins Company reported $750,000 in sales (25,000 units) and a net operating income of $25,000. At the break-even point, the company's total contribution margin equals $500,000. Based on this information, the company's:
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