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What you need to know about Price Elasticity of Demand
What is the difference in the price elasticity of demand for an individual firm in a perfectly competitive industry as compared with a monopolist. Why are the price elasticities are different?
Suppose you want to produce WIDGETS in your country. The international price of an imported WIDGET is $50 and pays an import tariff of $10 per unit. Three inputs are needed to produce a WIDGET.
What is the level of price, output, and amount of profit for an unregulated monopolist? Analyze the effect of regulation on the allocation of resources. Which situation is most efficient? Which situation is most likely to be chosen by government? ..
The manager of a national retailing outlet recently hired an economist to estimate the firm's production function. Based on the economist's report, the manager now knows that the firm's production function
Using the following data calculate Disposable Income:
Suppose, in a given week, float raises $900 million, Treasury deposits at the Fed rise $1500 million, discounts and advances decline $200 million, and foreign deposits at the Fed increase $150 million.
How many "spells" of unemployment occur each year in this economy? What percentage of the "spells" are only one month long?
Why might it be difficult for the Fed to formally adopt inflation targeting? Would inflation targeting be a good policy for the Fed in the present economic environment
A monopolist faces the demand curvep =11 - Q , where Q is measured in thousands of units. What is the monopolist profit maximizing price and quantity? What is the profit?
Shelly's preferences for consumption and leisure can be expressed as. This utility function implies that shelly's marginal utility of leisure is C-200 and her marginal utility of consumption is L-80.
Which of the following strategies are used by businesses to capture consumer surplus? Nash equilibria are stable because
Given the price elasticity of demand for two products & marginal cost, determine the optimal markups and prices under third-degree price discrimination.
Suppose the market for widgets can be described by the following equations: What is the equilibrium price and quantity?
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