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Suppose that the most popular car dealer in your area sells 10 percent of all vehicles. If all other car dealers sell either the same number of vehicles or fewer, what is the largest value that the Herfindahl index could possibly take for car dealers in your area?
In that same situation, what would the four-firm concentration ratio be?
Draw a correctly labeled loanable funds graph that shows what happens to real interest rates.
Identify who has the absolute advantage in painting rooms? Who has the absolute advantage in installing windows? Briefly explain how you derived your answer.
Describe why the results of computing cross-price elasticity can be useful in determining product relationships. In your explanation, contrast the different numerical values of cross-price elasticity and what each value indicates.
Calculate output, marginal cost, averagecost, price and profit at the average cost-minimizing activity level and calculate these values at the profit-maximizing activity level.
Industry supply and demand are given by QD = 1000 - 2P and QS = 3P. Determine the equilibrium price and quantity?
HAVE THESE RATES INCREASED OR DECREASED SINCE THE SAME WEEK IN 2008? (FOR EXAMPLE, IF YOU ARE DOING THIS ASSIGNMENT ON AUGUST 18, USE THE RATE FOR THE WEEK INCLUDING AUGUST 18, 2008.)
Write in words (or in mathematical symbols) the formula for the coefficient of price elasticity of demand. What are the numbers or ranges of numbers that correspond to (1) perfectly elastic demand; (2) elastic demand? Give a realistic example o..
Find the quantity, price and profits in equilibrium. Calculate the consumer surplus. Are consumers better off or worse off in this situation than in (a)?
Find the equation of the new demand curve for Chevrolets. Plot the new demand curve, D1 c' and, on the same graph, plot the curve for Chevrolets, D c'. found in 2 (d).
Use a graphical illustration to describe briefly what the influence on the market supply of labour
Calculate the two error measures that you used in other model analysis and comment on the acceptability of the size of the measure.
Use gradient analysis to provide an estimate of eleven data points that seem to represent the MC curve over this range of outputs. Plot these data points and sketch in estimated MC and AVC curves that seem to best fit these data points.
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