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A patent gives a firm a monopoly in production of the patented good. While the monopoly profits provide an incentive for firms to innovate, the monopoly power imposes a cost on consumers. Why do consumers suffer a cost? Is it greater than the profits earned by the monopolist?
a selfless person approaches Jones and Smith with a $100 bill and offers to sell it to the highest bidder, but both the winning and the losing bidders must pay her their bids. so if jones bids $2 and smith bids $1 they pay a total of $3, but jones..
Why is it important to control the aggregate gradation once the concrete mix design has been selected? How is this gradation control expressed in a specification?
If the government imposes a usury law and says that car loans cannot exceed 3 percent per year, how big will the monthly shortage (or excess demand) for car loans be What if the usury limit is raised to 7 percent per year
Calculate and compare the profit of each firm under the Cournot and Stackelberg equilibria. Under which equilibrium is overall industry profit the greatest, and why?
Assume the point elasticity method. A 10 percent increase in income brings about a 15 percent decrease in the demand for a good. What is the income elasticity of demand and is the good a normal good or an inferior good
There are 300 purely competitive farms in the local dairy market. Of the 300 dairy farms, 298 have a cost structure that generates profits of $24 for every $300 invested. What is their percentage rate of return
Marshall, in another portion of his book, states that land is but a particular form of capital from the point of view of the manufacturer. Is this a contradiction? Explain.
Explain what your Discrete Random Variable is and what probability distribution can be used to describe it. Give some examples and interpretation of the usage of the probability distribution function and outline its business relevance.
Using Hot Dogs, Graph the market and the individual supply, demand and costs for Hot dogs side by side. Make sure to include the S.R. and L.R profits
what you think were the factors behind such fluctuations
What are some mechanisms for protecting the environment
Alvin wants tostart college and have $12,000 available to buy a used car when he graduates in 4 years. Alvin wants to buy a new computer, software, and peripherals now, and he earns nominal interest rate 3% compounded yearly.
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