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Presume than an oligopolist is charging $21 per unit of output and selling 31 units each day. Also presume that previously it had lowered its price from $21 to $19, rivals matched the price cut, and the firm’s sales increased from 31 to 32 units. It also previously raised its price from $21 to $23, rivals ignored the price hike, and the firm’s daily total revenue came in at $482.
What is its daily total revenue?
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Inverse monthly market demand curve
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Suppose the production function is C = L(0.5) x M(0.75), does the production function exhibits increasing returns to scale, decreasing returns to scale or constant returns to scale? Explain your answer.
determine the market structure in which the low-calorie food company operates.use the internet to research two 2 of the
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Show this utility maximiz- ing combination combination of Pepsi and Coke on the graph. how would her consumption and utility maximizing bundle of Coke and Pepsi change if the price of Coke decreases to 50 cents?
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