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You are a manager for monopolistically competitive firm. From experience, the profits maximizing level of output of your firm is 100 units. However, it is expected that prices of other close substitutes will fall in the near future. how should you adjust your level of production in respons to this change?
a. produce more than 100 units
b. process less than 100 units
c. produce 100 units
d. insufficient information to decide
A research engineer invests $5,000 at the end of every year for a 32-year career. If this teacher wants to have $1,524,240 in savings at retirement, what interest rate must the investment earn? Consider the following two mutually exclusive alternati..
Draw what you think are likely shapes of supply and demand curves for the markets listed below. Explain why you drew the graphs the way you did. Explain the slopes of the curves near the competitive equilibrium in your graphs.
Suppose the quantity demanded for a security is BD = 150 - 0.1b, and the quantity supplied of the security is BS = 50 + 0.1b, where b is the price of the security in dollars. Suppose that the supply curve shifts to BS = 75 + 0.1b. The equilibrium qua..
How can managers deal with these problems? If a US corporate headquarters asks a manager to offer kickbacks or other bribes, what are the options?
Player 1 ("hider") and Player 2 ("seeker") play the following game. There are four boxes with lids, arranged in a straight line. For convenience, the boxes are labeled A, B, C, D. The admin of the game gives player 1 a $100 bill, and player 1 must hi..
Which of the following models are not generally the best to use when generating short-term forecasts?
Consider s market where there are many firms with different cost structures. If demand shift to the left (decreases), the last firm that entered____.
define scarcity and opportunity cost. what role these two concepts play in the making of business decisions?a what is
Students are required to write an essay on a significant, recent economic event or activity and discuss an economic activity or event of interest and apply it to theoretical models and economic laws introduced during your study of topics.
You know from data collected on the Widget Market that market demand and market supply have both increased recently. As manager of the facility, what decisions should you make regarding production levels and pricing for your Widget facility?
What is market failure? If a market failure is present, does this imply that government intervention will lead to a more efficient allocation of resources? Why or why not?
Now Assume the theater increases the number of its ads to 250. Should the theater increase its cost following this ad campaign.
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