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Two firms compete as a Stackelberg duopoly. The demand they face is P = 40 - Q. The cost function for each firm is C(Q) = 4Q. What are the profits of the two firms? Show work.
Define the terms 'virtual bank' and 'fintech' and describe four 'smart banking services' which virtual banks can offer to their customers.
A monopolistic competitor wishing to maximize profit will select profit will select a quantity where: If a firm is producing a quantity where marginal revenue exceeds marginal cost, the firm should ____existing levels of production, in order to____. ..
Why are indifference curves convex to the origin? Explain what Marginal Rate of Substitution (MRS) means? When wouldindifference curves be linear, vertical or horizontal?
If the US Federal Reserve raises interest rates, how would you expect the Euro to move (appreciate or depreciate)?
Describe how the consumer price index and the inflation rate are calculated. Why is it thought that the consumer price index, as presently calculated, overstates the rate of inflation?
Assume that demand for a commodity is represented by the equation P = 10 – 0.2 Q d, and supply by the equation P = 2 + 0.2 Qs where Qd and Q s are quantity demanded and quantity supplied, respectively, and P is the Price. Use the equilibrium conditio..
Define tourism. What should be included in the definition of tourism? What is the different between tourist and excursionist?
Di9scuss what will happen in this market as it moves to a new equilibrium. If a hard freeze eliminate Brazil's premium coffee crop, what will happen to the price of the premium coffee.
Suppose you are given the following information on All Around Airlines. The average variable cost of producing airline trips varies between 14.5 cents a mile when 50,000 trips per year are produced to 16.7 cents per mile when 500,000 trips per year a..
describe how each of the 4 factors contributed to the elasticity of the good. Is the product considered elastic, inelastic, or unitary elastic.
Select a stratified sample by sex of size 5. For each stratum, use the same set of random numbers to find the most favorite newspaper.
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.
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