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Describe how market structure affects market performance and conduct. Recognize three types of government regulation that aid to enhance market performance and conduct and describe how each regulation achieves its objectives and economic justification for the regulations.
What would be the equilibrium quantity and equilibrium price? Assume the Government imposes a $5 per unit tax on the seller, which equation would be affected and how?
Discuss the opposing arguments as to whether consumer sovereignty should prevail in medical care.
What are the marginal costs and benefits of pursuing additional education and inherent risks associated with this decision?
How does the demand curve faced by a perfectly competitive firm differ from the market demand curve in a perfectly competitive market? Explain.
The private marginal benefit for commodity X is given by 10 - X where X is the number of units consumed. The private marginal cost of producing X is constant at $5. For each unit of X produced, an external cost of $2 is imposed on members of socie..
Graph the supply and demand schedule for pizza using $5 through $15 as the value of p. In equilibrium, how many pizzas would be sold at what price?
Employ an isoquant and isocost diagram and words to show how firms will respond to the decrease in the wage rate. Be sure to identify the short run scale effect and the long run substitution effect.
Assume that the demand and supply functions for good X are as follows: What is the equilibrium price and equilibrium quantity?
Compute the unit price if the ventor sold 200 CDs. Compute the demand curve for CD. Calculate the fixed and variable costs. Calculate the break even quantities (number of CDS).
A monopolist sells in two geographically divided markets, the East and West. Marginal cost is constant at $50 in both markets. Demand and marginal revenue in each and every market are as follows:
You're advising a friend who has a decision to make regarding Social Security. He is about turn 62 years old, and is eligible for early Social Security benefits. His early benefits would amount to $677 each month.
You decided to open a restaurant, named FunMeal. FunMeal is a fast food restaurant with a very limited menu. What is FunMeals elasticity of demand? Is demand elasticity, inelastic, or neither?
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