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In the long run with free entry and exit, is the price in a market equal to marginal cost, average total cost, both, or neither?
Explain with a diagram.
Suppose a certain state increases the license fees that physicians must pay from $500 to $2000 per year. Trace out the impact of the increase in fees an average cost, average variable cost, fixed cost, and marginal cost for physicians operating in th..
Suppose a monopolist has cost curve C(q) = 10 + 3q + 0.1q 2 and faces demand q = 12 ? p. Find the monopolist price and quantity. Return to the situation in (a) with only one market. What would be the monopolist profit?
Using the World Bank classification of countries, select countries from the different categories and examine the data on output growth and education level. Is there a systematic relationship?
q. the following is a report from a not-very-efficient bls survey taker there were 90 people in the houses i visited.
Discribe the difference in economic profit between a competitive firm and a monopolist in both athe short and long run. Which should take longer to reach the long-run equilibrium?
The following two individual demand curves represent an entire market for a commodity. What is the market demand curve for the commodity? show the market demand in equation and graphical form. (a) P=60-10Q (b) P=60-15Q
Explain how many tickets would the team be able to sell (ignoring capacity constraints) if it behaved competitively and set p = MC. Explain hHow many tickets would it sell -and at what price - if it behaved like a monopoly.
If instead the Fed wants to stabilize aggregate demand, how should it change the money supply..
Elucidate Illustrate what you can do, if the best technology was used to produce the components of the system.
Explain how these surveys help you understand what your collected data should look like (range of expected values).
a tax imposed on imports is calleda tariffa quotaa comparative advantagean excise taxquestion 2this result proposes
"The Heckscher-Ohlin Trade Theory is about how two countries can get greater gains from trading with each other if they have different resources one have more labor and the other have more capital. The Trade Ruler game is set in "the Hechscher-Ohlin ..
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