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Assignment:
Essay
Explain how the insights of Friedrich Hayek, Joseph Schumpeter, and Adam Smith regarding business competition can be used to critique both perfect and monopolistic competition. What is problematic about the MR = MC pricing formula deployed in neoclassical theory? A good essay will highlight the key theoretical aspects of each of these models of competition.
Explain in what sense actual business enterprises differ from the textbook neoclassical models as discussed in Dean, Erik et al. 2016. Principles of Microeconomics: Scarcity and Social Provisioning. OpenStax Economics, Principles of Economics. OpenStax CNX. May 18, 2016.
Consider a new business that invests $20 million into a plant to manufacture loaves of bread. The market for bread is say around 100 million loaves and the new firm expects that it will be able to obtain a market share of around 5%. At that level of production, the total cost is $10,000,000. Let us say that it targets a 20% return on its investment. What should the price of a loaf of bread be? Use the principle of target rate of return pricing. If the mark-up rate is 10% what will the full-cost price be?
Here is the link of Dean, Erik et al. 2016. Principles of Microeconomics.
Movies are distributed in a variety of forms, not just first run theatrical presentations. What other ways are movies distributed. What are the different price points. Using this information, draw a fully labeled graph of the market for movies in ..
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Construction costs for a petroleum refinery will be spread over a 4-year period. Costs are continuous within each year, and i is 15%. What is the PW
Inflation is an important policy issue because it causes a redistribution of income and wealth, and discourages saving and investment. Discuss how inflation affects borrowers and lenders, asset prices, and households on fixed incomes.
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If there is an alteration to the price of a complement to a good, why is that a change in demand when an alteration in the price of the good itself is a change in the quantity demanded?
recent increases in rents have caused the citizens of elmville to vote for a rent ceiling of 1200. assuming all rental
When a nation imposes a tariff on the importation of a commodity, economic inefficiencies develop that detract from the national welfare. Explain.
Discuss within your Learning Team the size of the U.S. federal government's national debt and why it continues to grow each year. Identify potential problems for future generations associated with the debt.
Summarize the impact of health care spending in the United States on the economy. Provide a critical analysis of this impact that is supported by relevant cited sources. Recommend a strategy based on your analysis.
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