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Assuming no fixed costs, show that if a firm with Cobb-Douglas production function pays its labor and capital resources the value of their marginal products then it
(a) Earns normal profit if the function is constant return to scale.
(b) Earns above normal profit if the function is decreasing return to scale.
(c) Incurs losses if the function is increasing return to scale.
consider a solow economy that is on its balanced growth path. assume for simplicity that there is no technological
How and why would the market equilibrium price and quantity adjust at the end? What would be the new equilibrium price and quantity? Draw a graph and illustrate the changes on your graph.
What appears to be the major constraint that the central banks used to determine the limits of the monetary injections into the economy? Did the United States use the same or different criteria?
question 1 a what market structure is used to benchmark allocative efficiency and why do we use it?nbsp illustrate and
Find out the quantity demanded, the quantity supplied, and the magnitude of the shortage if a price ceiling of $30 is imposed in this market. Also determine the full economic price paid by consumers.
Identify one real-life example of a market structure in your local city and relate your example to each of the characteristics of the market - Find the profit maximizing price and quantity and the resulting profit to the monopoly.
sometimes market activities production buying and selling have unintended positive or negative effects outside the
two companies company a and company b are deciding whether each should implement a new pricing strategy which may or
From what you know about these firms' cost structures, what is the highest possible price per unit that could exist as the market price in long-run equilibrium?
The Teenager Company makes and sells skateboards at an average price of $70 each. During the past year, they sold 4,000 of these skateboards. The company believes that the price elasticity for this product is about -2.5. If it decreases its price to ..
According to the Environmental Protection Agency, "rigid containers have definite retained shape and form and that are self-supporting" (EPA, n.d.) Some of the differences between rigid and non-rigid containers, according to this week's reading, "Rid..
two software companies sell competing products. these products are substitutes so that the number of units that
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