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What assumptions about a rival's response to price changes underlie the kinked-demand curve for oligopolists? Why is there a gap in the oligopolist's marginal-revenue curve? How does the kinked demand curve explain price rigidity in oligopoly?
Find a market price for hydrogen gas and normalize the energy content compared to the current local price of gasoline. Using octane as an approximation for gasoline energy content, compare the cost per kilojoule of energy of hydrogen to gasoline
Starting salaries of economics majors have a mean of $47,000/year with a standard deviation of $8,000. What is the probability that a random sample of 100 majors will have an average salary of more than $50,000 year?
The market for taxi services in a Midwestern town is monopolized by firm 1. Currently, any taxi services firm must purchase a $40 thousand "Medallion" from the city in order to offer its services. A potential entrant (firm 2) is considering enteri..
Provide an economic explanation of what you have shown in your diagram above. Discuss what happens to (1) economic output-per-worker and Discuss the adjustment process that occurs during the transition period from the economy's post-disease situati..
Given a perfectly competitive firm in the input and output markets where: P0 = exogenous price, Q = f(K0 , L) where dQ/dL > 0 and d2Q/dL2
Assume the new leadership in Congress decides to repeal some of the tax breaks granted to large businesses during the past several years.
Calculate the terms-of-trade gain and what is the net effect of the tariff on Agronomia's welfare?
how are the following calculations are made?when income increased by 10 the quantity of memberships of athletic clubs
a. consider a competitive market supple and demand model. if there are no externalities explain why economists describe
explain alternatives to traditional monetarist devices be identified in modern economies.
Demand by senior citizens for showings at local movie house has a constant price elasticity equal to-4. The demand curve for all other patrons has constant price elasticity equal to-2.
John Q is planning to buy a bond having a face value of $100,000 for $90,000. The bond is paying 8% per year payable semi-annually and is redeemable 6 years from now at its face value. What is the rate of return on this investment per six months a..
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