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Suppose your firm produces olive oil in a perfect competitive market and is currently earning zero economic profits. Suppose there is a surge in demand for olive oil after researchers discover that olive oil consumption reduces heart disease. Analyze the short and long run effects of this increased demand on you firm.
Should the government break up a monopoly into a large number of perfectly competitive firms? Why?
Assume the normal production process for beet sugar uses high sulfur oil for fuel and releases two units of sulfur dioxide to the air for every ton of beet sugar manufactured.
Why do economists pay little attention to the algebraic sign of the elasticity of demand for a good with respect to its own price, yet pay careful attention to the algebraic sign of the elasticity of the demand for a good with respect to another g..
Show how a monopoly firm (industry) behaves in short run (using any practical example: emphasize on output, price and average cost).
Rusty Flapps, an airline pilot with Air Canada, suddenly finds himself laid off because of the dramatic decline in the demand for air transportation brought on by the terrorist attacks of 9/11 and the recent economic slowdown.
Determine whether each of the following increases, decreases, or remains unchanged in the short run: the market interest rate, the quality of money demanded, investment spending, aggregate demand, potential output, the price level, and equilibrium..
The Haas Corporation's executive vice president circulates the memo to the firm's top management in which he argues for reduction in price of firms product. He says such a price cut will raise the firms sales and profits.
the externalities of educationwrite a paper in which you1.identify and discuss three externalities positive or negative
Distinguish between collusive and non-collusive oligopoly. Explain the following features of oligopoly.
How does the theory of efficient production apply to manager of government bureaus or department that are not run for profit How about nonprofit club that collect enough dues from their members to cover the cost of operation
Discuss the opposing arguments as to whether consumer sovereignty should prevail in medical care.
What factors need to be considered to produce an appropriatemission statement and vision statement for the organization How long or short should a mission and vision statement be
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