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Why are oligopolies able to earn both short-run economic profits and long-run economic profits, while price taking firms like perfect competitors can only earn short-run economic profits?
On August 15, 2005, a spacecraft in a 190 km, 520 inclination circular parking orbit around the earth departed on a mission to Mars, arriving at the red planet on March 15, 2006, whereupon retrorockets place it into a highly elliptic orbit with a ..
Find the critical value of the discount factor to sustain collusion if the firms play a supergame and use grim punishment strategies.
Consider the CAPM. Write the ß of asset in terms of variances and covariances. Write the ß of a portfolio in terms of the ß's of the individual
For a firm in a perfectly competitive market, the total revenue curve, TR, is unusually easy to draw. What will it look like? Draw TR in your figure. Remember that if you sell nothing, your revenue is zero. The price of the good is 2.20.
Suppose the production function of a firm is Q=100k^1/2 L^1/2. the corresponding long run cost curve was found to be TC=(Qw^1/2r^1/2)/50. Use this information to verify that Shephard's Lemma works when deriving the input demand functions.
your company is considering a replacement of an old delivery van with a new one that is more efficient. the old van
If everyone expects inflation to rise by 10% over the next few years, where, according to the Fisher effect, will the biggest effect be.
Which of the following does NOT contribute to the marginal productivity of workers? All of the following are choices for the polluter when faced with additional costs to abate the externality EXCEPT.
In studying the consumption of very poor families in China, Robert Jensen and Nolan Miller found that in both Hunan and Gansu "Giffen behavior is most likely to be found among a range of households that are poor (but not too poor or too rich)." Wh..
You are in a class with one other student. It is the end of the semester and final exams are in one week. Your teacher has said the final exam will be graded so that anyone who scores the class average on the final exam will receive a B in the class.
Two niches in the market for electronic sensors,
Calculate the change in consumer’s surplus, change in producer’s surplus, tax revenue, and deadweight loss as a result of the policy change. Illustrate them on a graph.
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