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Suppose that the cost function for an orange juice producer is C(q) = 5 + 0.05q2. If there are 100 identical orange juice producers in the market, the market supply curve is? S(p)=1500p
S(p)=1000p
S(p)=500p
S(p)=10p
S(p)=20p
The result was an increase from $8 to $32 per unit per year. What were the effects of these changes on Belk's economic lot size and relevant costs?
Write down the profit maximization problem for the rm.
According to the human skills theory of comparative advantage, developing countries would be expected to have a(n). After-transfers family income is the sum of
if Bob bids $ 5, Alice bids $ 6 and Bob n passes, Alice gets $ 20 and pays $ 6 to auctioneer and Bob pays auctioneer $ 5. Both have $ 100 to bid. What is optimal strategy.
Using the supply-and-demand model, explain what would happen to the supply curve during a drought. Also explain the effect on the price of water as illustrated by the graph.
What is an absolute advantage? What is a comparative advantage? Give an example where you have an absolute but not a comparative advantage. Why should we specialize and trade?
Read the paper “The Great Depression, the New Deal and the Current Crisis” and answer the following questions: What were the similarities and difference in the economic context that preceded the Great Recession, as compared to the reasons that preced..
Assume that you were ready to buy a custom tailored dress (or men’s suit) and you are prepared to pay up to $200 for it. Also assume that the tailor is prepared to sell that item of clothing for as little as $100. Discuss any recent purchases you hav..
what about Bill Maxwell article
When the production function and the revenue are function the same in a model? (Answer is related to an assumption made about the price of the consumption good)
Suppose the firms divide the market into two areas of equal size and assign each firm one of the areas. Each firm agrees to sell only in its assigned areas. Will the arrangement generate a successful cartel?
q. the biggest difference between microsoft and software retailers is the market structure in which they operate.
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