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Supposed short run inverse demand in a monopolistically competitive market is represented by: p(X)=18-0.2x. Cost is given by TC (x)= 320+2x+0.05 x2
a. Given these demand and cost conditions, what price, output and profits result in the short run?b. What will happen as the firm moves from the short to the long run?
If offered the choice between a 10 percent increase in her hourly wage rate, which would Helga choose? Assume that she is free to choose her hours of work.
Some say which we should propose an amendment to the U.S. Constitution which would need a balancing the federal budget
A concerned Congress votes to impose a price floor $2 above the equilibrium price. Illustrate what is the new market price.
1. economics is the study of the principles governing the allocation of scarce means among competing ends when the
You just opened a flower shop and are trying to understand pricing issues. You were told that elasticities are very important in determining prices and what products to supply, so you decide to investigate this concept.
Assume the interest rate is 5.75 %. how much do you have to deposit each year make sure that 8,000 can be withdrawn for the 4 years?
describe how current economic conditions affect your organization or one with which you are familiar. Identify most important economic indicator affecting your organization and elucidate why.
determine the probability that buying the equipment will produce a return less than that of the bank and the probability that buying the equipment will produce a return more than that of the bank.
Assume, no calls are currently on hold. If agent takes 5 minutes to complete current call, how many callers do you expect to be waiting by that time. Illustrate what is probability that none will be waiting.
Consumers are not able to resell good 1. For p
Discuss the International Health Economics Association (iHEA). Who are the associated member supporters?
For each of the determinants of demand in Equation identify an example illustrating the effect on the demand for hybrid gasoline-electric vehicles.
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