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Underlie the conclusion that free markets are efficient. Explain how these assumptions either do or do not apply to an industry of your choosing.
What happens to consumer and producer surplus when the sale of a good is taxed? How does the change in consumer and producer surplus compare to the tax revenue?
Explain why each may cause market outcomes to be inefficient.
How do the elasticities of supply and demand affect the deadweight loss of a tax? Why does this effect occur?
You're the manager of monopolistically competitive firm. The present demand curve you face is P=100-4Q. Your cost function is C(Q)=50+8.5Q2 (That's Q squared).
Share 2 or 3 experiences in your life when you either benefited from the over supply (think sales and discounts) of a product or when you had to pay more for a product because it was in high demand.
1. Why is there such a difference in Asia's share of global real GDP, depending on whether the computation uses purchasing power parties or exchange rates 2. Why is Asia's "economic size" so much smaller on a per capita basis than on an a..
in neoclassical growth models the sources of growth is exogenous usually technology. such theoretical models hence are
Cinema Theater has estimated the following demand functions for its movies: Daytime demand, QD = 400 - 50 PD Nighttime demand, QN = 200 - 20 PN The marginal cost of serving another customer is $5 and its fixed costs are $100.
according to the textbook the profitability of cable tv service is approximately 5 that of petroleumnatural gas is 10
A firm uses two plants (A and B) to produce the product. The plant's marginal cost functions are given by the following equations:
Small businessmen, such as Archie was at the beginning of the book, are often idolized in our society. Americans are much more ambivalent about "big business," often seeing large businesses as both important (source of jobs) but predatory and overly ..
write one page about a real-life situation where you need to negotiate. describe this process. please illustrate how
When China reformed state-owned enterprises, it tried a new approach to choosing managers: it put managerial jobs up for auction. The bids for the jobs consisted of promises of future profit streams that the managers would generate and then deliver t..
Using calculus, show that the demand and supply curve have constant elasticity along their entire length. What are the values of the demand and supply elasticities?
Discuss why a monopolist should lower its quantity relative to the perfectly competitive market to maximize profits. Make sure to elaborate employ examples.
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