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What is an "oligopoly" and why do they exist? Mention three or four oligopolies whose products you own or regularly purchase. What distinguishes oligopoly from monopolistic competition?
A driver wishes to buy gasoline and have her car washed. She finds that the wash costs $3.00 when she buys 19 gallons at $1.00 each, but that if she buys 20 gallons, the car wash is free. Thus the marginal cost of the twentieth gallon of gas is:
Short and Long-term costs business comparisons. Select directly comparison business concepts and generally discuss the FC, VC, break-even quantities, economies of scale and diseconomies of scale for each.
Find out the optimal price and quantity with standard pricing. Which is the per-customer profit for the gym? What is the consumer surplus?
Which of the following changes to fiscal stimulus package of 2009 for $862 billion (under the bill called American Recovery and Reinvestment Act of 2009) would have a larger overall impact on AD? Explain your answer with credible logic and analysi..
The marketing team for a restaurant wants to estimate the price elasticity of demand coefficient for its steak dinner. It priced its dinner at different price points in local restaurants to see how many would be sold at different prices.
A company has a EBIT to be $100,000 every year forever. The company can borrow at 5%, has no debt and cost of equity of 15%. If the tax rate is 25 %, find out the value of the firm?
Describe how the market for Alaskan king crab will be affected if, at the same time that medical reports confirm that suspected health benefits from consumption of Alaskan king crab meat, wages are increased for trawler men
Describe the effect of increase from 1998-1999. How would the increase in demand affect the price? How would the price effect depend upon the price elasticity of supply? Please describe how. (Explain the illustration instead of actually drawing it)
If the government imposes a $1 per-unit tax, how do the marginal, average total, and average variable costs change? What if instead the government imposes a $100 per-firm tax?
The details about three identical firms operating in Cournot competition are given. The demand curve with marginal revenue, profit maximization, optimum quantity, total demand and market price related questions are answered.
Estimate the linear demand equation
Write down the household's budget constraints for period 1 and 2 and identify the current account.
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