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What are one example of a monopolistically competitive firm, oligopoly, and monopoly in your local area? In your example, please relate to the market characteristics of each of the market structures?
Suppose that you want to maximize the value of the function f(x) = 8x^2 - x4. Which value(s) of x satisfy the first-order condition for this maximization problem? Which value(s) of x are boundary points? Which value(s) of x solve the maximization pro..
Elucidate what would be the P and Q in a competitive industry. Find CS and PS for a competitive industry and a monopoly. compare them.
The traditional mortgage amortization schedule specifies a monthly payment that is
Where Yp is potential GDP, Y is real GDP in billion of dollars and P is GDP deflator. By how much overall should the government expenditures change to achieve potential GDP level if MPC=0.8? Calculate the size of inflation/deflation associated with t..
Suppose you see a series of loan payments described in factor notation as follows; P = $500(P/A, 2.02%, 24) Further suppose you know that the interest rate i=2.22% is the interest rate per quarter. What then, is the number of years over which this pa..
Explain how the United States calculates unemployment and why many economist do not find this as a real economic indicator. How is unemployment calculated in other countries? Give two examples. What are your thoughts and ideas on this?
What happens to the regression F value if R2 decreases holding everything else constant?
A) What is the probability that all seven arrive on time? B) What is the probability that exactly five arrive on time? C) What is the probability that no more than four arrive on time? D) Find the mean number of parcels that will arrive on time.
For each of the following items, identify whether it is included or excluded in calculating this year's GDP. In each instance, briefly explain why. (Note: since you are not responsible in this course for "Measures of Income" section in Chapter 5, non..
A produce distributor uses 1,200 packing crates a month, and each crate is purchased at a cost of $16. The manager has assigned an annual carrying cost of 20 percent of the purchase price per crate. What would the net change (with its direction) in t..
A specialty concrete mixer used in construction was purchased for $300,000 5 years ago. It is MACRS-GDS 5-year property. Its annual O&M costs are $105,000. The remaining useful life is 8-years and the end of the 8-year planning horizon, the mixer wil..
Consider a firm where production depends on two inputs labor and capital with prices w and r, respectively. Initially the firm faces market prices of w = 4 and r = 8. These prices then shift to w = 8 and r = 8. What is your prediction for the firm's ..
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