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A perfectly competitive industry has many identical firms, each of which has fixed costs = 2 and marginal cost given by MC = 2Qs. The mkt demand equation is: P=10-.1Qd and the mkt supply equation is: P= 2+.1Qs. What is the market equilibrium price and quantity? What is the optimum output for each of the firms when market is in equilibrium? What is the value for variable costs when each firm is producing its optimum output?
Write a brief explanation of each of the following terms. import tariff, effective rate of protection
Assuming that over the last three years the equilibrium quantity of wheat has risen while over the same period the equilibrium price has not changed, which of the following is the most likely explanation of these facts?
Choose one international trade agreement. For Example European Union, A.D.E.C., NAFTA, etc. List 3-5 guidelines of the agreements. No conclusions about the agreement. Discuss with examples pros and cons on this international trade agreement from..
Consider the "Beauty Contest" or guessing game experiment. Everybody picks an integer between 0 and 100 inclusive, and the winner is the person who picks closest to 2/3 of the average pick. a) What picks are ruled out by the idea of one level of it..
Given the above information write an equation for the market supply curve. Explain how you found this equation.
If Hotel Bethlehem can charge two separate prices for two separate blocks of guests, what are the two prices they charge? how many rooms do they ll at each price? If Hotel Bethlehem only charges one price, how many rooms do they ll? What price do t..
Create three Microsoft PowerPoint slides in which you summarize the following data, Include an evaluation of impact of past and current fiscal policies, monetary policies, budget deficits or surpluses on economy and on the airline industry industry.
Describe the principal- agent problem as it relates to owners and managers and provide a real life example.
After a nation's (not USA) foreign-capital flows are frozen, a large international supply of USD dollars shows up. What happens to the quantity of USD dollars demanded.
The marginal cost of producing the government service is MC= 24. Draw a diagram to show the marginal benefit functions for each person
Between NIS, NFS, and DFS, the need for coordinated sharing of remote files seems to be well established. However, the principles and mechanisms are the subject of a long-standing debate.
Find an article that discusses in depth the state of the current U.S. economy or how much the U.S. economy is growing
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