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Which of the following industries is most likely to exhibit the characteristic of free entry?
a. cable televisionb. satellite radioc. mineral miningd. t-shirt silkscreening
Principles of Microeconomics - There are 2 brands of cell phones that are almost identical except for some minor features: the A-Phone and the Pomegranate.
Julia must select between two different designs for preventing closure, which will be in use indefinitely. Model 1st has a life of 3-years and cost of $8000, and maintenance of $1000 every year.
The marginal revenue is $3.00. What is the short-run and long-run condition for the monopolist and what output changes would you recommend?
What will be the effect of the following events on the market for French wine and the quantity consumed? Distinguish between the short-run and the long-run impact.
The information technology field is very competitive, and a large information technology company has employed the bank for guidance. companies may have to compete for high quality IT professionals.
Derive, and show on a table, Sony's total and marginal revenue for all possible output levels. From this, draw Sony's demand, marginal revenue and marginal cost curves
Describe how the marginal product for a resource can change. Conclude with an explanation for what can change the demand for a resource.
Which of following industries would you classify as an oligopoly? Which would you classify as monopolistically competitive? Explain your answer.
Which price constitutes firm 2's optimal commitment strategy? Justify your answer and explain why it makes sense.
Many airline routes worldwide are served by only one airline (a monopoly). Within the U.S., these are often from a small or mid-sized city to a major carrier hub and frequently operated by a regional carrier under contract to the larger airline.
What will be the equilibrium price? What will be the equilibrium output for the industry? For each firm? What will profit or loss be per unit? Per firm? Will this industry expand or contract in the long run?
Why is the demand for water price-inelastic and in those regions where outdoor use of water makes up relatively large portion of total use, the price elasticity is high. Why?
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