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In a purely competitive industry
a. each existing firm will engage in various forms of nonprice competition b. new firms are free to enter and existing firms are able to leave the industry very easily c. individual firms have a price policy d. each firm produces a differentiated (nonstandardized) product.
Do you find the most important aspect of our economy that needs to be fixed is the budget deficit?
Given the production function Y = A and fixed values for the saving rate and depreciation, if productivity is growing at an average rate of three percent, and the labor input grows at two percent, there is a unique growth rate of capital that is su..
There are two alternative projects to be chosen: project A has a first cost of $110,000 and an annual operating cost of $60,000. Project B has a first cost of $175,000 and an annual operating cost of $35,000. If the company uses a 3-year recovery per..
Suppose the two states decide that they want to produce 590 units of wheat together (not 590 units of wheat each). What is the maximum amount of cotton that they could produce?
They are all highly populated areas with target markets suitable for your products. One factor is which there several formidable competitors in all of the areas
Why should a government be concerned with the pricing of products that a company transfers to an affiliate in another country? Please explain in terms of taxation and exchange rates.
A restaurant/bar is analyzing its pricing of beer. It has determined that the price elasticity of demand for beer is −0.8; the cross-price elasticity for wine with respect to the price of beer is 0.9; What is the restaurant's profit (prior to the pri..
Bob’s Breakfast, a perfectly competitive restaurant, sells its Breakfast Special (the only item on the menu) for $5.00. The costs of waiters, cooks, power, food, etc. average out to $3.95 per meal. The costs of the lease, insurance and other such exp..
Case study: loan payments in Great Britain's retail banking sector changes in their operating environment have facilitated greater competition in the British retailing banking sector. Where is the equilibrium price of a loan per customer? Now how man..
Elucidate how does the real wage rate at point c compare with the real salary rate at point a. How do nominal wage rates compare at those two points.
Sidney makes $200 per week. She buys only two items: pizza and beer. The price of a pizza is $5 and the price of each beer is $2. What is the x-axis intercept for the above budget constraint? What is the slope of the above budget constraint? What is ..
Throughout the ages countries have implemented impediments to trade.
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