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Take a small company to be established and construct a cost revenue analysis to see how feasible the project could be? Divide your cost of production into fixed and variable cost. Calculate the price that you think will make the business break even.
An industry said to be characterized by monopolistic competition is the apparel industry. Suppose you were hired as a consultant by a firm in this industry. How would advise the firm as to the levels of output
Each of the following firms possesses market power. Explain its source. Merck, the producer of the patented cholesterol-lowering drug Zetia
The marketing manager has estimated the company’s demand curve with the equation P=3000 – 40Q. To develop a deeper understanding of pricing and quantity to be produced,complete the analyses.
Using the principles of supply and demand, develop a plan to alleviate the shortage of Math and Science teachers within this country. Try to use price and non-price determinants as your tools to reach equilibrium.
The marginal and average cost curves of taxis in metropolis are constant at $.20/mile. The demand curve for taxi trips in metropolis is given by P = 1 - .00001q, where P is the fare, in dollars per mile, and Q is measured in miles per year.
A country should engage in international trade when the country can give up fewer goods for imported item than is implied by the item's domestic opportunity cost of production.
Suppose you have a limited money income and you are purchasing products A and B whose prices happen to be the same. To maximize your utility you should purchase A and B in shuch amounts that?
labor markets further applications of microeconomicswhen two goods are perfect complements the indifferencecurves area.
Assume that the two firms behave as Cournot Duopolists. Explaining the concept of best response or Creaction function, determine the best response function for each firm. Calculate the profit maximizing output of each firm and the market price.
Does either player have a dominant strategy? Does either have a dominated strategy? Explain.
supply and demand conceptsyou have been hired by a new firm selling electronic dog feeders. your client has asked you
Draw the new budget line and use the indifference curve to identify the change in quantity purchased and illustrate the income and substitution effects.
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