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In a perfectly competitive industry, should all companies have the same cost curves, so that when the industry is in long-term (long-run) equilibrium they are all at that point? Explain
Pindyck, R. andD. Rubinfeld (2001), Microeconomics,5th edition, Pearson-Prentice Hall, Madrid. (Chapter8). Chapter8,"The Maximization of Profits and Competitive Supply"
a monopoly has demand given through p20000-25q and costs given through cq100q25q2. determine the profit maximizing
Salvage values can be ignored. During the first 10 years, the average use of water will be less than during the remaining 30 years. Use the conventional benefit-cost ratio method to select the more economical plan.
Using scholarly research, develop a 3-5 page paper discussing your understanding of the following terms: Economics, Microeconomics, Managerial economics and The difference between macro and micro economics.l
Imagine that your Learning Team is a group of economic advisors working for the U.S. president. You have been tasked with evaluating the current state of the U.S. economy and making recommendations on how to improve it.
Show the dynamics of the retirement decision graphically by showing how incentives change as one ages. Your graphs should demonstrate both how work becomes.
a. Why is the soft drink industry so profitable during the years in this case b. Update the profitability what has happened to Coke and Pepsi in the last five years c. Coke and Pepsi have been the dominant players in this market. Today, what market..
Research the corporate-level of strategies and evaluate the business-level strategy do you believe is appropriate to offset forces in the industry for Victory Motorcycles. Research a large corporation headquartered in your home state focus on its c..
There are four of you in a group- representing the individuals with currency in an economy. Each of you has $100. Use this information to answer the following questions. Additionally, all banks abide by a reserve ratio of (1/5), regardless of scenari..
The price of the substitute good is $2.80. Suppose P = 1.20. What is the price elasticity of demand? What is the cross price elasticity of demand
a. Draw in the production possibilities curve considering land as the only input into production. b. If he initially has all land supporting cows
Given a production Yt=(Abar)Kt^(1/3)Lt^(2/3) and K*=1000 and Abar=3/2. and also there are Labor=1000 workers who supply labor in elastically. What does the long run model say wage in this economy is?
If banks borrow from the Fed's discount window, what would happen to the money supply (assume no offsetting Fed actions)? Explain.
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