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What would happen to the short-run equilibrium price and quantity of magnesium if a major (economically large) magnesium mine had to close due to environmental regulation? Assume the supply is elastic and demand is inelastic.
The details about three identical firms operating in Cournot competition are given. The demand curve with marginal revenue, profit maximization, optimum quantity, total demand and market price related questions are answered.
Evaluate the 3 goals of the Fed, which are price stability, full employment and economic growth. Which one do you think is the most important goal for the Fed to focus on right now? Also, what would be appropriate monetary policy for the Fed to he..
Who sells permits and how many do they sell Who buys permits and how many do they buy Briefly explain why the sellers and buyers are each willing to do so. What is the total cost of pollution reduction in this situation?
Redstone's manager is fired, and you are now the manager of Redstone Clayworks. How many fire pits would you choose to produce and why?
Randy Smith us hired as a consultant to a firm producing ball bearings. This firm sells in two distinct markets, each of which is completely sealed off from the other. What price should managers charge in each market?
A recent market survey indicates that 84% of male teens aged 14-18 "possess a strong desire" to own a new model of off-road utility vehicle. The vehicle has a price-tag of approximately $29,000.
Deep global recession might trigger changes in expending from imported items to domestically manufactured items. What are at least two policies that governments might implement to increase expending on domestic items.
Many airline routes worldwide are served by only one airline (a monopoly). Within the U.S., these are often from a small or mid-sized city to a major carrier hub and frequently operated by a regional carrier under contract to the larger airline.
What does the analysis of the 'hold up' problem contribute to the explanation of the size and scope of firms?
Describe the market equilibrating process and compare the demand for food with demand for Starbuck's coffee. Include academic research to support your ideas.
During the oil crisis in the 1970s, long lines at gas stations disappeared soon after price controls were removed and gas prices were permitted to rise. Should this even be interpreted as evidence that the oil companies have monopoly power Why or..
Using regression analysis, find an equation that best fits the data to represent the TVC function and at what sales/output level will marginal costs (MC) reach a minimum?
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