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Suppose a market has two identical sellers. If each seller's supply function is given by P = 20 + 2Q, then what is the the market supply function?
Consider the following information about Kellogg and General Mills, two breakfast cereal makers, regarding their advertising strategies: If neither firm advertises, each will increase its profit by $2 million.
Harry's Hat Company makes hats using the technology described in the following data: a. Fill in the Marginal Product columns of these tables. b. At what point does diminishing marginal product set in with three machines? With four? c. Why is the poin..
Plot the labor input (workers) against the MP (marginal product). Put the labor input on the horizontal axis and the MP on the vertical axis. What is the genera
Should the Fed be independent or would we be better off with a central bank under the control of the president or Congress.
Illustrate what research did Krueger use to "help win" a rise in the minimum wage in 1996. What did his results show.
How does the role of the government affect each market structure's ability to price their products? How does international trade affect each market structure?
If Electrocomp decides that at least 30 air conditioners should be produced but no more than 50 fans should be produced, what would be the optimal solution? How much slack is there for each of the four constraints at the optimal solution?
Explain how have they implemented the policy changing the "interest rate", changing the reserve ratio, or open market operations. How has this policy impacted you and/or your company.
Suppose perfectly competitive market conditions are characterized by the following inverse demand and inverse supply functions: P = 100 - 5Q and P = 10 + 5Q. The demand curve facing an individual firm operating in this market is:
What is the probability that a randomly selected game will last between 120 and 210 minutes?
Consider a firm with an upstream division producing chips, and downstream division producing computers. Initially, at time 1, there is no outside market for the firm's chips. The firm sets the transfer price optimally at PT=300. This results in pr..
Give two reasons to defend your chosen business cycle - Identify the right fiscal policy that should be followed: contractionary or expansionary and explain why this fiscal policy should be used.
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