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Markets: In terms of expected output, price, consumer surplus, profits and societal welfare, compare the standard Cournot - Nash equilibrium (for the case of 2 firms), the monopoly equilibrium and the perfectly competitive equilibrium. What would happen to your results as the number of Cournot competitors increase? Explain your answer. Please provide as much information as possible.
Determine the equilibrium price and quantity. Outline the significant factors that could cause changes in supply and demand for the product
Determine algebraically the equilibrium price and quantity? Suppose that the price to be fixed at $110. Determine algebraically the surplus or shortage that would result? Discuss the differences in elasticity of supply and elasticity of demand?
Each employer faces competitive weekly wages of $2,000 for blacks and $2,700 for whites. Suppose employers undervalue the efforts/skills of blacks in the production process. In particular, every firm is associated with a discrimination coefficient d,..
One of the more confusing topics in economics is the difference between consumer demand and the quantity demanded. Consumer demand is the entire schedule for the demand of a good for all consumers at every price, typically represented by a downwards ..
Third National Bank has reserves of $10,000 and checkable deposits of $100,000. The reserve ratio is 10 percent. Households deposit $20,000 in currency into the bank and that currency is added to reserves. What level of excess reserves does the bank ..
Three different plans were presented to the US GAO (Government Accountability Office) by a high-technology facilities manager for operating a small weapons production facilities. Plan A would involve renewable 1-year contracts with payments of $1 mil..
Using three tools, (a) open market operations, (b) discount rate, and (c) reserve requirements, the Federal Reserve influences output and employment. Globalization influences the conduct of monetary policy through its powerful effects on the economic..
In 1976 a movie ticket was $4 and the price index was 56. In 2009 a movie ticket was $9 and the price index was 228. Based on this information: The real price of a movie ticket was the same in both years.
If this were he case would there be any automatic stabilizers in the government economy. Elucidate what would there be any distinction between the full-employment deficit and actual budget deficit.
suppose that a big mac costs 5.00 in new york and sf30 in geneva. suppose further that the price of 1sf on that day is
Calculate the purchasing power parity exchange rate between the Swiss franc and the dollar. Based on your calculation, is the SF overvalued or undervalued.
Everything else equal, when the market supply curve shifts inward, consumer surplus. Everything else equal, given an upward sloping supply curve, if the market demand curve were to shift outward, producer surplus
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