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A perfectly competitive industry is initially in a short-run equilibrium in which all firms are earning zero economic profits but are operating below their minimum efficient scale. Explain the long-run adjustments that will create equilibrium with firms operating at their minimum efficient scale. Why is a perfect competitive firm associated with efficiency for both consumers and businesses?
Which two of the text's possible explanations for increasing wage and salary inequality seem least consistent with the following fact The distribution of earnings has become more unequal within industries (Both goods and service industries) and wi..
Explain how each of the events described above, affected the world market for oil. Specifically, use a supply and demand diagram to explain changes in price and output.
Assume a manager of a profitable department store you're confronted with the pricing problem. You've two types of customers
Will price be higher or lower under such an agreement in long-run equilibrium than would be the case if firms didn't collude. Even in firms in a monopolistically competitive market collude successfully.
What is the own price elasticity of demand when Px = $240? Is demand elastic or inelastic at this price? What would happen to the firm's revenue if it decided to charge a price above $240?
How does the federal reserve have a high degree of instrument independence? If it has a specific mandate from Congress to achieve "maximum employment and low, stable prices," then how does the Fed have goal independence?
A firm is targeting 35,000 net monthly profit servicing 2000 cars. What price should the firm charge to realize the targeted profit.
Hypothesize the basic short-run and long-run behaviors of the model in the industry you have chosen in a market economy. and analyze at least three (3) possible areas for the industry that could lead to transaction costs, and explain each in detail.
Online research seems to be the best. They all have pros and cons of some sort. I would use online research to reach a certain demographic and have links from sites that my target market would visit. The benefits would be to gain information us..
What proportion of sample means from samples of size n = 16 graduates fall within ±$3,000 from the population mean? u=48600; o=8100 In repeated sampling of n = 25 graduates, what proportion of sample means would fall within ±$3,000 from the popula..
Discuss why would cash transfers typically be preferred by recipients over in-kind transfers? What are the pros and cons of each from a government perspective?
How much insurance should I buy to be fully insured and what is a fair insurance premium?
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