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Someone claim that immigration must always be good for economy because the raised supply of labor will result in a higher GDP. Estimate this statement. In your answer take into account the skill level of potential immigrants as welll as all factors which go into the determination of GDP per capita. Remember that potential immigrants come from many countries and with various skill levels. Do not take a position as to whether immigration should or should not be encouraged; only discuss its potential impact. Look at both overall GDP and GDP per capita
Each instance which follows is an example of one of four types of market failure (imperfect market structure; the existence of public goods; the presence of external costs and benefits; and imperfect information).
Write down the some real-life examples of monopolistically competitive, oligopoly, and monopoly markets.
You're the GM of firm that manufactures PC's. Demand for them has dropped 50%, thanks to soft economy. The sales manager has identified only one potential client, who has received many quotes for 10000 new PC's.
Determine whether the firm is operating efficiently, given that its objective is to minimize the cost of producing the given level of output. Determine what changes (if any) in the relative proportions of labor and raw materials need to be made to..
Determine price and the level of service if competitive bidding results in a perfectly competitive price/output combination. Determine price and the level of service if the car lot grants a monopoly franchise.
Price elasticity of demand, Income elasticity of demand and Cross elasticity of demand of toyota corolla car.
Which of the following is not a condition required for the practice of price discrimination?
A firm that has total fixed costs of $40,000 sells its output for $250 per unit and has an average variable cost of $150. If the firm's cost and revenue curves are linear, how much output must the firm product to break even?
Write down some of the characteristics of perfect competition. Which kinds of industries come closest to perfect competition in the real world?
Describe each of the subsequent using supply and demand diagrams.
Assume that someone told you that an increase in price of DVD players caused the decrease in demand for DVDs. Is this what you would predict? Why or why not?
An industry is composed of 20 firms, all with equal sales. The Herfendahl Index ratio in this industry is a. 1000 b. 500 c. 800 d. This cannot be determined from the information given.
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