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Select an industry or firm. State its market structure (pure competition, monopoly, monopolistic, or oligopoly). Next, please define the characteristics of the industry or firm that support your selection of market structure. Lastly, describe and illustrate graphically the firm's profit maximizing behavior in particular MR=MC under the above-mentioned market structures or conditions.
Let a monopolist face a demand function given by P(q) = 40-q and let the cost function be given by C(q) = 50 + q2. Calculate marginal revenue. What price will the monopolist charge, call that price P*? What is the average cost at the quantity of outp..
A convenience store manager earns a base salary plus small bonuses for each of ten different possible monthly milestones he meets. Typical managers can meet half of these milestones. Do they miss the others by a little or a lot?
What was the result of the merger and merged firm on the petroleum industry? Did the price of gas go up or down? What role did the Federal Trade Commission (FTC) and Department of Justice (DoJ) play in this merger? What did the FTC and DoJ require to..
Consider the following market supply: QS = c, where c > 0. At price P = 0.5(a/b), the absolute value of the price elasticity of this market supply is [e]. (NOTE: Write your answer in number format, with 2 decimal places of precision level; do not wri..
Green home is define as an Energy Efficient Home using Energy Star Rating. The cost doesn't have to be exact, all I need is how to formulate my Cost Benefit Analysis and how to compute my ROI or Pay Back Time.
What assumption along with diminishing marginal product implies diminishing marginal rate of technical substitution?
Purrfect Pets Inc. is a small company that manufactures a variety of organic products for kittens and cats.A new product, a cat sofa, was created for the dual purpose of a scratching post and place for the cat to lounge. Discuss the arguments for eac..
If CPI was somehow able to monopolize the market what would happen to the price of toothpaste, would it rise or fall? What would happen to the profits CPI makes via their toothpaste division?
What role does rational self-interest play in economic analysis?
Jim likes to go to church but he also likes to drink wine. unfortunately for jim the consumption of one of these goods reduces the enjoyment of the other. draw the indifference curves that displays jims preferences.
What is rehabilitation and what is the history behind it's use? What is the philosophy behind the use of rehabilitation?
q.a new water pump has been purchased for 1400 that is expected to require 600 per year in annual operating costs plus
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