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Explain why each of the following might serve to deter entry of a competitor.
(a) Maintaining excess production capacity
(b) Promising customers that you will undercut any rival
(c) Selling your output at a price below that at which marginal revenue equals marginal cost (Hint: Assume entrants are unsure about what your marginal costs are. Why would they be deterred from entering if they believed you have low marginal costs? Why might a lower price lead them to think that you had low marginal costs?)
(d) Offering a discount to customers who sign up for long-term contracts
An asset in the 5-yr. MACRS property class cost $100,000 and has no salvage value after six years of use. The asset will generate $300,000 in annual revenues and will require $100,000 in annual labor costs and $50,000 in annual materials costs.
Consider an economy with the production function Y= L^(1/3) a) Derive the Labor demand Curve b) If Labor supply curve is L^s= (w/p) , calculate the equilibrium levels of real wage, labor and output.
Sales have grown over this period with relatively few shocks due to uncontrollable weather, political and sporting events. This online retailer carries no inventories; when it receives a pre-paid on-line order from a customer.
Calculate the equilibrium output if he discriminates perfectly.
Compare the graph you obtained with Figure 1 in Box 11-1. Did the low interest rates encourage growth?
An office receives 20 faxed orders every two hours. (1) What is the probability that it will receive 8 orders in the next hour (2) What is the probability that an order will be faxed within the next 9 minutes (3) What is the probabilit..
The $75000 outlay will be charged off as an expense by the firm this year (Year 0). The returns estimated from the program in the forms of greater productivity and less employee turnover are as follows (on an after-tax basis):
Draw a figure showing the demand curve and the supply for apartments. What is the market equilibrium rental price per month and the market equilibrium number of apartments demanded and supplied?
a Calculate the optimal money growth rate needed for the Fed to hit its inflation target in the long run. b In the short run, if output growth is just 2 percent for two years and the equation determining the real interest rate changes to r = 4.5 - ..
How large is the MI money supply How large are required reserve How large are excess reserve By how much could the banks increase their lending activities What will be the total effect on the M3 money supply
Suppose the demand for a product is given by P = 50 - Q. Also, the supply is given by P = 10 + 3Q. If a $12 per unit excise tax is levied on the buyers of a good, after the tax,what is the total quantity of the good sold.
At the profit maximizing outputrate, what are the monopolist's average total cost and averagerevenue At the profit maximizing outputrate, what are the monopolist's total cost and total revenue What is the maximum profit
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