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1) What is unique about perfect competition as a market structure that sets it apart from the other three market structures?
2) How does it affect the diagrams that we use to analyze firm behavior?
3) What are the implications of the assumption of easy entry and exit for the results of perfect competition in the long-run?
Compare the price and output decisions of a profit-maximizing firm under conditions of pure competition, imperfect competition, and small oligopoly. Show that your answer does not depend upon the cost structure of the firm. What are the social implic..
You are buying a bond at a quoted price of $892. The bond has a 7.5 percent coupon and pays interest semi annually on February 1 and August 1. What is the dirty price of this bond if today is April 1. Assume a 360-day year.
Why do you think that approximately one-sixth of the world's population has not experienced much substantive economic growth over the past 30 years?
To maximize profit a price discriminating firm should
General Electric paid its line workers $12 per hour last year when the Consumer Price Index was 100. Suppose over the past year that deflation occurred and the aggregate price level fell to 90. Instructions: Round your answers to two decimal places. ..
The 2001 recession ended in November 2001, but the perception of "bad economic times" lingered into 2002 and 2003. What evidence do these graphs provide concerning the lingering perception of a recession.
A firm that finds it extremely expensive to monitor the output of each worker will likely pay its workers
A internet company has a fixed cost of $1,750,000 per month and a variable cost of $25 per month per subscriber. The company charges $45.95 per month to its internet customers. The company currently has 75,000 subscribers and proposes to raise its mo..
The first paragraph gives two goals desired by society that the pure market economy is largely successful in reaching and explains why the market is able to attain these goals. produce and sell the quantity and type of goods and service that people w..
Many television shows, movies, and songs can be downloaded for free on the Internet. Much of this material is copyrighted and was expensive to produce. Much of it is available for a fee through a legitimate site. Should you pay to download an episode..
Illustrate what is probability first two electric toothbrushes sold will be returned to drugstore because y are defective. Explain how all work, formula and answer.
Discuss how each of the 4 factors contributed to the elasticity of the good.
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