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Predatory acts of firms are generally against the law in the United States. Specifically in terms of pricing strategies of firms in various market structures, however, it is possible for competing firms to work together to determine a solution beneficial to all firms, without being guilty of collusion. Carefully explain how this process can be achieved, giving specific examples to support your response.
What is meant by the incidence of a tax? Explain why the statutory and actual incidence of a tax often differs.
q. 1 the cost to drive on a freeway is 0 at all times of the day. this cost establishes equilibrium at 3 a.m. however
Suppose that a firm's only variable input is labor. The firm increases the number of employees from four to five, thereby causing weekly output to rise by two units and total costs to increase from $3,000 per week to $3,300 per week.
A farmer uses a piece of land with the following accounting costs to grow a crop worth $1800. If a normal rate of return is $100 on such an investment, what will the value of the land be for use during this time period?
Suppose a perfectly competitive firm sees that price is $23 in the market place. It notices that the cost of producing the next unit of output is $26. What advice would you give to this firm?
1. price discriminationa. indicate the types of price discrimination for the cases below. based on the above examples
An important factor in selling a residential property is the number of people who look through the home. A sample of 17 homes recently sold in the Buffalo, New York, area revealed the mean number looking through each home was 26 and the standard devi..
In the auction described above, suppose that you could entice additional bidders to attend your auction. However, none of the new bidders would have a valuation greater than $3.0 million.
Movie theaters often charge different ticket prices for different times of shows; so is the movie theatre a monopoly that practices discrimination? What about the concession stand inside the theater?
Using graphing function on TI-83/84 Explain how price supply and demand are equal. At this price, explain how many tickets will be supplied and sold.
Which in turn depends on the animal's access to grazing which depends on the number of llamas sent to the commons.
Explain why the demand for the good or service provided by the organization you work for is elastic or inelastic. How does this influence pricing decisions?
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