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Suppose each of the 50 states in the United States had only one gasoline station, and all stations were the same size (sales were the same in each gas station). (1) Please calculate the four-firm concentration ratio for the state of New York and show your calculations. (2) Please calculate the four-firm concentration ratio for the entire country and show your calculations.
For long distance transport of your expensive electronic products your company is leasinga cargo-plane for $150,000 per year. Your annual costs depend on the miles of flights andthey are directly proportional to them at a cost of $5 per mile. Evaluat..
Suppose disposable income increases by $2,000. As a result, consumption increases by $1,500. Answer the following questions based on this information. Where appropriate, enter your answer as a decimal rather than as a percentage. The increase in savi..
Illustrate what will the average total cost be after 1 unit is produced. Elucidate what impact does the dollar appreciation have on the firm's international competitiveness.
What is the firms revenue function? Graph this function. Give a plausible reason why a firms demand might look like this.
The Electrotech Corporation manufactures two industrial-sized electrical devices: generators and alternators. Both of these products require wiring and testing during the assembly process. There are 260 hours of wiring time and 140 hours of testing t..
Which of the following is one of the differences between the Articles of Confederation and the new Constitution created during the Constitutional Convention in 1787?
What were the long-term economic consequences of U.S. housing policies for whites and blacks in the postwar period?
Assume the market price of wheat increases by 5 percent causing farmers to increase wheat production by 5 percent. Calculate the price elasticity of supply. Using the formula for price elasticity of demand or supply, answer the following question:
When assembling data on selling price, sq footage, number of bedrooms, number of bathrooms, age of house and lot size, which variables are dependent and independent
The average cost per night of a hotel room in New York City is $431. Assume this estimate is based on a sample of 55 hotels and that the sample
Two power plants are currently emitting 8,000 tons of pollution each (for a total of 16,000 tons). Pollution reduction costs for Plant 1 are given by MCR 1 = 0.02 Q and for Plant 2 by MCR 2 = 0.03 Q , where Q represents the number of tons of pollutio..
How would each of the following be likely to affect the value of the dollar, all else being equal? Explain.
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