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In 2007,Potato chip industry in Northwest was competitively structured and in long run competitive equilibrium; companies were receiving a normal rate of return and were competing in a monopolistically competitive market structure. In 2008, two smart lawyers quietly bought up all the firms and began operations as a monopoly called "Wonks." To operate efficiently, Wonks hired a management consulting firm, which estimated a different long-run competitive equilibrium.
Given that the new company is now run as a monopoly, how will this benefit the stakeholders involved, such as the government, businesses, and consumers?
Current economic theory and their application or lack of application to contemporary economic problems
In what particular ways (if any) does a college education increase a worker's productivity? Take some special care with this problem.
Describe (include an explanation of economic profit in your explanation). Will price be higher or lower under such the agreement in long-run equilibrium than would be the case if firms didn't collude? Discuss.
Developing countries in the "Global South" turned to socialism in the past as a means to solve their economic problems.
Does microeconomics apply to every nation in the world. Explain your reasoning. and explain the specifics of any cases or examples you use and the implications of similar on local citizens of that country.
Discuss the difference between monopolistic competition, and perfect competition market models and also provide examples from the real life.
A country with fixed quantities of resources is able to make any of the following combinations of bread and ovens.
What is your expected rate of return over the one-month holding period?
Provide an example of an airline or aviation firm trying to take advantage of economies of scale. Do you think they are/were successful? In what way?
Could you identify and describe the concepts of scarcity and opportunity costs. Also, explain the laws of supply and demand and how they are related to the concepts of scarcity and opportunity costs in decision-making.
what is the least-cost input-combination of labor and capital and how much output is produced with that set of resources?
Find the equation of the new demand curve for Chevrolets. Plot the new demand curve, D1 c' and, on the same graph, plot the curve for Chevrolets, D c'. found in 2 (d).
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