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1. Tacit collusion is likely to occur when firms have different market shares. true or false?
2. Suppose walmart buys fresh roses from several hundred small backyard gardeners in California.These gardeners are very likely to be able to engage succesfully in tacit collusion. True or false?
3.Toby operates a small deli in a monopolistically competitive restaurant industry.In long-run equilibrium, the profit maximizing price of the three-meat sandwich is 3$.Price also equals his average total cost.Toby's minimum average total cost is less than $3. true or false?
4. Relying on brand names will always lead consumers to the best consumption choices if they buy the brand name rather than a cheaper substitute. true or false?
5. If perfectly competitive firm chooses its level of output so that the price equals marginal revenue, the value of the marginal product of labor will equal the wage rate. True or false?
Design a simple econometric research project
Multiplicative decomposition method
The Australian government administers two programs that affect the market for cigarettes.
Solve the forecast model
What are the marginal abatement cost functions for each of the two areas? Calculate the loss in the two areas due to over-control (for the rural area) and under-control (for the urban area).
Explain why this model violates the assumption of no perfect collinearity. Write the t statistic for testing the null hypothesis
What is economics system? What are the types of economics system? Briefly explain each type of economics system by giving examples of nations that are close to each type
Determine when a competitively produced product generates negative externalities in production, the industry will,
Assume a company has the following production function: Q = 100 K.5 L1 . Currently, the company hires 1,000 workers and employs 100 units of capital.
M-commerce also known as mobile commerce is being lumped in with several strategic internet plans. Explain some of the industries that are likely to use mobile commerce and how it is working for them.
Auto Data manufactures custom engineering testing machine. The following 5-orders are currently in the design department:
Briefly discuss the difference between mechanism of an oral or English auction and a Vickrey or second price auction.
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