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Draw below a illustration of marginal cost and average total cost curves for a small firm that is in long run equilibrium. a. locate the long run equilibrium price and quantity if the firm is perfectly competitive. b. Label the price and quantity P1 and Q1 c. draw in a demand and marginal revenue curve to illustrate long run equilibrium if the firm is monopolistically competitive. Label the price and quantity P2 and Q2 d. How do the monopolistically competitive firm's price and output compare to those of the perfectly competitive firm? e. How do long run profits compare for the two types of firms?
Compare these results to those predicted by the equilibrium business cycle model developed by Barro throughout the text.
Illustrate what is the practical significance of income elasticity coefficients. Explain the significance using as examples an income elasticity.
A Wartburg engineering student has been out of school and working for a few years when they decide to buy a house that costs $233,000. They intend to pay a down payment of 20% and finance the rest at 5.75% per year compounded monthly on a 30-year mor..
What should she charge per bus to maximize her profit? What would her profit be?
Suppose In a Found Ltd. just issued a dividend of $1.52 per share on its common stock. The company paid dividends of $1.20, $1.26, $1.33, and $1.44 per share in the last four years. If the stock currently sells for $55, what is your best estimate of ..
What is the doctrine of supremacy? Is corporate formation usually governed by state or federal law? Why are courts permitted to be flexible, and how do they do it, if they re required to follow precedent?
q1. hillary proposes instead that she specialize in making clothing i.e. shell do all the clothing production for the
Would this have been the result of a change in Demand? If so, why; if not, why not? If not, what was the probable reason?
Under what circumstances, if any, would you advocate restricting the freedom of the press, and to what degree would you restrict it? Substantiate your answer with logical arguments and/or evidence.
Expand his shop in that way allowing more customers to be served on a Saturday morning?
q1. assume that with 400 patients per year the safc short-run average fixed costs satc short-run total costs and
Summarize Madison’s central arguments in Federalist Paper 10 and Federalist Paper 51. Summarize Henry’s central arguments in his speech against ratification of the Constitution. What do these excerpts reveal about each man’s assumptions about human n..
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