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Demand is Qd=100-2P
Market price in the industry is $10 a unit
What is total demand in the industry?
What is the 4-firm concentration if each sells 15 units?
Which of the following are characteristic of principal-agent conflicts that often exist in a firm? Managers do not always operate in the best interest of owners because owners are generally more risk averse than managers.
The demand function for a certain brand of CD is given by p=-.01x^2-.2x+11 where p is the unit price in dollars and x is the quantity demanded each week, measured in units of a thousand. Determine the producers' surplus if the market price is set at ..
The vast majority of consumers have a relatively inflexible leisure budget. If sports team moves to town, the money one spend taking a family to a game typically is money that is not spent at a local bowling alley, golf course, restaurant or theatre...
Use indifference curves to distinguish between income and substitution effects, using the above techniques explain why the demand curve slope downwards, What are the main criteria for designing a tax system, To what extent do you think the national..
A firm sells 10 units at a price of 20. The marginal cost of production for this firm is MC(q)=5+q. What is this firm’s Lerner Index?
Describe "how" producer surplus is measured? What happens to producer surplus when the price of a good rises - all other things equal.
A large induced-draft fan is needed for an upgraded industrial process. The motor to drive this fan is rated at 100 horsepower, and the motor will operate at full load for 8,760 hours per year. The motor’s efficiency is 92%. what is the present worth..
Explain how much extra surplus does the producer capture when it engages in first-degree price discrimination instead of charging a single price.
How is the effectiveness of team selling demonstrated by the Reynolds team, and what are some of the vantages to this method in this particular case?
The Circular Flow diagram is model of how the economy works. Explain how the model would change if the following events ocurred:Households increase savings.
According to a study of US cigarette sales between 1955 and 1985, when the price of cigarettes was 1% higher, consumption would be 0.4% lower in the short run and 0.75% lower in the long run (Becker et al., 1994).
some games of strategy are cooperative. One example is deciding which side of the road to drive on. It doesn't matter which side it is, as long as everyone chooses the same side. Otherwise, everyone may get hurt. Is there a Nash equilibrium in this g..
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