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Under oligopolistic market conditions, a. the pricing actions of any one firm have no significant effect on the others b. the pricing actions of any one firm have a significant effect on the others c. no firm can have any control over its output price d. all firms have identical prices for their products
Bernice’s preferences can be represented by the utility function, U(x, y) = min{x, y}. She faces prices ($2, $1), and her income is $12. If prices change to ($3, $1), the compensating variation
What is the relationship between price and marginal utility?
xplains with aid of a diagram, effect that such legislation will have/has had on equilibrium price and quantity of labour employed. Also illustrate what can be done to alleviate/remedy any problem that may rise from above laws.
Consider the production function q=4L^.3K^.8. K is not fixed in the long run. Graph the isoquant for Q=4. Identify and label 3 points on the graph. Calculate MRTS and determine slope of the isoquant of the three points you identified. label the slope..
You purchased a commercial building and lot for $400,000 on April 15th of 2010. The lot itself was valued at $80,000 when purchased. You sold the lot and building on September 15th of 2015. Use MACRS depreciation and note this property is non-residen..
How long will it take for Avataria with a growth rate of 6% to triple its income? What about Twilightia with a growth rate of 18%? Will it be correct to say that Twilightia will triple its income 3 times faster than Avataria? If no, then what is t..
Device A costs $100000 initially, whereas devise B costs $140000. Maintenenance will be $4500 for devise A and $2750 for devise B in the first year. These maintenance costs will increase 12% per year.
How do tariffs work? Illustrate by referring to U.S. lumber imports from Canada, suing any set of quantities and prices to make your point. Public housing and public protection are two of many goods that government provides. One is considered a publi..
Some time ago the city of Chicago imposed a new per-worker employment tax on employers to help pay for city services. A city alderman, asserting that the city lawyers drafted the law so that it taxed employers, not workers, said ``The City of Chicago..
What criteria would you apply to determine where such a policy is or is not successful. Judging from your own stated criteria, was Japan's exercise successful. Why or Why not.
Suppose that capital's and labor's shares at .3 and .7. What would the effect be of increasing the pool of labor by 10 percent? If the increasing labor is due to population growth, will the resulting increasing have an effect on people’s welfare?
If the nominal money supply is rs.200 and the price level is 1, (i) is the economy operating with inflationary or deflationary condition. (ii) Illustrate at what price level will there be simultaneous equilibrium in all markets.
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