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An industry has two firms-a Stackelberg leader and a follower. The price of the industry output is given by p = 84 - q, where q is total output of the two firms. The follower has a marginal cost of $0. The leader has a marginal cost of $21. How much output will the leader produce in order to maximize his profits?
A recent study has determined the following elasticities for apples. Use this elasticity information to answer the questions below.
1. Why do we call economics a scientific discipline? Explain. 2. Why are "scarcity" and "choice" central to economics?
During the average month in 2010, Sarita received and watched 6 movies sent to her through the mail and she watched an additional 13 movies which were streamed to her computer.What is the average cost of a movie to Sarita? What is the marginal cos..
Who is the current Chairman of the Fed - Should the Fed remain independent from political authority or should the President and Congress have a say in their operations?
1.nbsp you are given the following information about the costs of a perfectly competitive
Determine the effects on aggregate output, consumption, employment, and the real wage, with reference to income and substitution effects.
you run a sport club that offers fitness guidance by the hour.your cost is 40 per hour and you have no other costs.you
Suppose the money market in Monia is in equilibrium. What is the initial equilibrium level of interest rate in Monia? Suppose that the central bank in Monia determines that the equilibrium interest rate should be equal to 5%. What is the level of t..
The banking sector was deregulated in 1982. Before then, the US economy had eight recessions in the post-WWII period, an average of one recession every 4½ years
Define the fundamental responsibilities and key characteristics of the Chief Information Officer (CIO) and Chief Technology Officer (CTO) within health care organizations. Make one (1) recommendation where they can utilize their expertise to assist w..
Explain the differences between external costs, private costs, and social costs and how the presence of external costs leads to market failure.
What would be the steel company's output if it employs 150 units of capital and 200 units of labor?
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