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III. Assume that the the market in the problems above is instead imperfectly competitive - let's say monopolistic competition. Please demonstrate your understanding of this market structure by listing an example price and quantity that a firm within the industry would set. Explain your answer. (Hint: Perfect competition and monopoly are boundaries for which imperfect competition exists between.)
Ajax, Inc. has appointed you to examine the demand for its line of telecommunications devices in 35 different market areas.
Carl is deciding whether or not to make a farm. If he makes a farm, he will earn a $50,000 grant from the government. For every 100 head of cattle that he increase and sells.
Forecasting collect data using techniques of estimating demand functions in an attempt to forecast sales and prices.
You have been employed to manage a small manufacturing facility which has cost and production data given in the table listed below.
What is the relationship between bowed out shape of production possibilities frontier and increasing opportunity cost of the good as more of it is produced?
Determine what are the reporting reasons on why gasoline prices have been fluctuating and trending upward for the past twelve months.
The firm's president concurs with the opinion of the executive vice-president and As the head of marketing you respond with a memo pointing out that the price elasticity of demand for the firm's product is about -0.5. Why is this fact relevant?
The demand curve for 48" Sony flat screen televisions is likely to move to the right when consumer incomes increase.
Describe the cutthroat competitors reasons for not increasing or decreasing his price, thereby accounting for the kink in his demand curve.
Research how externalities impacted the development of communication infrastructure- both positively and negatively and discusses a positive example of externality associated with the development of communication infrastructure and Explain why?
Developing countries in the "Global South" turned to socialism in the past as a means to solve their economic problems.
Discuss why it would cost Pete Sampras or Venus Williams more to leave the pro tennis tour and open a tennis shop than it would cost a coach of a tennis team to do so.
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