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In each of the following situations, do you think the industry described will be perfectly competitive or not? Explain your answer.
a. There are two producers of aluminum in the world, a good sold in many places.
b. The price of natural gas is determined by global supply and demand. A small share of that global supply is produced by a handful of companies located in the North Sea.
c. Dozens of designers sell high-fashion clothes. Each designer has a distinctive style and a loyal clientele.
d. There are many baseball teams in the United States, one or two in each major city and each selling tickets to its hometown events.
The average girl on this planet walks 4 miles a day carrying 5 gallons of water for her entire family to use (for the day). How far did you (apx) have to walk this morning to get your first sip of clean water?
Assume that safety in the workplace is costly to provide for a manufacturing firm. Draw an isoprofit curve map for the firm with the wage rate on the vertical axis and risk of injury on the horizontal axis. Explain why the graph looks as you have dra..
Derive and plot Hugo"s Engel curve for donuts. Explain how much does his weekly budget have to rise for Hugo to buy one more donut per week.
Operating and maintenance expenses for a truck increase by $400/year for the first 5 years of operation. First-year O&M expenses are $2,400. The initial cost of a truck is $8400, estimated salvage value after 4 years is $2,400, and the salvage after ..
ESPN currently pays the NFL $1.1 billion per year for eight years for the right to exclusively televise Monday Night Football. What is the net present value of this investment if the parent Disney Company has an opportunity interest rate equal to its..
Which of the following types of costs is more relevant when making production decisions? a) Marginal costs b) Sunk costs c) Fixed costs d) Average costs
This case analysis should be written on "the economist" case provided in the additional material. Thank you custom-writing! No additional research is needed but any tables or graphs that are needed should go in the appendix with a max of 3 pages as e..
A precise statement of the rationale for a business and a step-by-step explanation of how it will achieve its goals is a
New equipment was just purchased for $750,000. Estimated salvage in 10 years is $50,000. Calculate the depreciation and book value at the end of year 4 for each of the following methods:
The United Nations Security Council, the main decision-making body at the UN, is comprised of five regular members: China, France, the Russian Federation, the United Kingdom and the United States. Ten more members are elected from the General Assembl..
Recently I began thinking about why the use of tokens for money is so popular. In casinos, I think that it is well justified, but there are some cases when those arguments are not useful. For example, why would an amusement park make you buy tickets ..
Explain the quantity equation: M.V=P.V. What does the assumption of constant velocity imply? If inflation rise from 6 to 8% what happens to real and nominal interest rate? Explain the roles of monetary and fiscal policy in causing and ending Hyperinf..
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