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Are there creative works that can be shared or otherwise used by anyone without permission and without the payment of royalties? What is “the public domain”? Why is this significant to musicians, conductors, publishers, and others?
Suppose that fixed cost for a firm in the automobile industry is $5 billion (i.e., F = 5 billion) and that variable cost costs are equal to $17,000 per finished product (i.e., c = 17, 000). Calculate the equilibrium number of firms in the U.S. and Eu..
q1. assume you are the chief economic advisor to the president of the united states and the president has asked you to
What are the optimal penal codes if there are two firms, competition is Bertrand, marginal costs are equal, and capacity is unlimited? Explain why a firm might prefer a meet-or-release MCC to a no-release MCC.
As a price searcher, a monopoly firm?
Why would high transaction costs or imperfect information tend to prevent price-taking behavior?
I was watching a documentary about a scientist fishing for giant stingray in Thailand. They ran into a fisherman on the river late at night. The fisherman said he was fishing for giant river shrimp (the things were the size of lobsters). The scientis..
a friend of yours is considering two cell phone service providers. provider a costing 120 month for the services
A firm has a production function represented by: q=L^(.75)K^(.25) Find a function for how much capital and labor a firm should hire to produce a given level of production in terms of the price of labor, w, and the price capital, r. Suppose w=15 and r..
Suppose your mayor has asked you to come up with an excise tax that will be as efficient as possible. Choose a good to be taxed and explain why it will cause a low deadweight loss.
Discuss how each of the 4 factors contributed to the elasticity of the good.
Year Price level Price level Exchange Real exchange rate For China for U.S rate 1997 100.0 100.00 0.12 0.12 1998 99.20 101.55 0.12 0.117 1999 97.81 103.77 0.12 0.113 2000 98.20 107.27 0.12 0.110 2001 98.91 110.29 0.12 0.108 2002 98.16 112.05 0.12 0.1..
Should the airline replace its night flight from LA with a morning flight as well as should the airline remain in business.
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