Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
The New York Times (Nov 30, 1993) reported that 'the inability of OPEC to agree last week to cut production has sent the oil market into turmoil...[leading to] the lowest price for domestic crude oil since June 1990.'
a) Why were the members of OPEC trying to agree to cut production?
b) Why do you suppose OPEC was unable to agree on cutting production? Why did the oil market go into 'turmoil' as a result?
c) The newspaper also noted OPEC's view 'that producing nations outside the organization, like Norway and Britain, should do their share and cut production.' What does the phrase 'do their share' suggest about OPEC's desired relationship with Norway and Britain?
Suppose a perfectly competitive firm is producing 300 units of output, P = $10, ATC of 300th unit is $8, marginal cost of 300th unit = $10, and AVC of the 300th unit = $6. Based upon this information, the firm is:
The production engineers at Impact Industries have derived the optimal combinations of labor and capital (the only two inputs used by Impact) for three levels of output: 120, 180, and 240 units of output:
Johnson Inc. is notified that local property taxes have raised. Johnson's economist states this will increase our cost of production and shift up our average total cost curve, average variable cost curve.
Estimate the number of cups served per week and determine outlet demand curve. What would be the effect of a $5000 increase in the competitors' advertisement expenditure and outlet demand curve
Gentleman Gym just paid its annual dividend of $3 per share, and it is hugely expected that the dividend will raise by five percent per year indefinitely.
Employ an isoquant and isocost diagram and words to show how firms will respond to the decrease in the wage rate. Be sure to identify the short run scale effect and the long run substitution effect.
A fashion firm manufactures outfits using two inputs, design skills (L) and expensive materials (M). The cost of fabrication is small and might be ignored as a first approximation.
What incentives does a capitates physician have to keep his patients happy? What incentive does an FFS physician have?
Explain how a company that is competing in a purely (or perfectly) competitive market should increase its competitive stance in the marketplace. Provide specific examples.
Mention two economic choices you had to make with in last week. Alfred Marshall said in 1890s, "economics is the study of man in ordinary business of life." You must examine one or two of these choices in terms of alternatives you gave up.
What price and quantity will monopolist produce at if the marginal cost is constant $4.00? Compute the deadweight loss from having the monopolist produce, rather than the perfect competitor.
Describe the pricing strategies in monopolistic competition, oligopoly, and monopoly market models. Explain which market structures are price makers and price takers. What is the difference in the demand curves and why.
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd