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Draw graphs showing a perfectly competitive firm and industry in long-run equilibrium.
a. How do you know that the industry is in long run equilibrium?
b. Suppose that there is an increase in demand for this product. Show and explain the short-run adjustment process for both the firm and the industry.
c. Show and explain the long-run adjustment process for both the firm and the industry. What will happen to the number of firms in the new long-run equilibrium?
a. in the presence of an underground economy likely to result in a gini coefficient that overstates or understates
examine the common price setting strategies of airlines that use game theory. predict the potential effects of such
Suppose a single firm produces all of the output in a contestable market. The market inverse demand function is P = 350 -5Q, and the firm’s cost function is C(Q) = 8Q. Determine the firm’s equilibrium price and corresponding profits.
a identify three economic variables that create differences in market interest rates on assets andor liabilities. b for
hi ltbrgt ltbrgti need this small assignment completed by today the latest. i am willing to pay a little bit more so
assume that a country estimates its m1 money supply at 20 million. a broader measure of the money supply m2 is 50
IS THE SAVINGS INTEREST RATE OF INTERNET- ONLY BANKS HIGHER OR LOWER THAN THE RATE OF BANKS IN WHICH YOUR DEPOSITS(OR ANY LOCAL BANKS)?
The firm's production function is y=min{2X1,X2}. The cost function of the firm is given by C=w1X1+w2X2. What are the firm's conditional input demands for input 1 and input 2? What is the firm's total cost function? Draw the graph.
About two-thirds of funding for substance abuse treatment comes from taxpayers. Are there external benefits of substance abuse treatment that warrant this level of public funding? Why would insurance coverage tend to increase rational ignorance?
A firm is making a long-run planning decision. It wants to decide on the optimal size of plant and labor force. It is considering building a medium-sized plant and hiring 100 workers.
Suppose a consumer chooses between two types of flowers of his garden: tulips and roses. Graphically (no math needed) show the income and substitution effects for an increase in the price of roses given the following preferences.
You are told that there are two linear lines in a coordinate graph with x the variable on the horizontal axis and y the variable on the vertical axis. The first line contains the points (5, 10) and (10, 20)
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