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Even in firms in a monopolistically competitive market collude successfully and fix price, economic profit will still be competed away if there is unrestricted entry. Explain. Will price be higher or lower under such an agreement in long-run equilibrium than would be the case if firms didn't collude?
Explain in a couple of well written sentences which industry in the U.S. would benefit in the short run from putting a tariff on all Japanese autos,
The Present Worth (PW) of the cost (- Installed cost and operating cost + Salvage value) of Westinghome is most nearly
Suppose Panama produces only two goods, bananas and hats. If Panama has a comparative advantage in bananas, a move toward free trade will, a. harm hat workers, benefit banana workers, but benefit the nation as a whole. b. harm hat workers, harm bana..
Compute the AE function and plot it in diagram. What is total autonomous expenditure? What is slope of the AE function?
The United States is one of the wealthiest country on earth, yet our fundamental economic difficulty is scarcity. How can this be? Also, determine the broadest and narrowest measures of money & how are they used?
nGDP is $5 trillion in Yr 1 and $5.4 trillion one year later. What is the GDP growth rate? B) If rGDP in Yr 1 was also $5 trillion what can you say about Yr1? C) If rGDP grew 5% between Yr. 1 and Yr. 2 what did GDP prices do?
Provide one example of a good the US would be considered to have a comparative advantage in producing. Why do you think the U.S. has this comparative advantage.
Discuss the statistical significance of the parameter estimates a, b, c, and d using the p- values. Are the signs of b, c, and d consistent with the theory of demand.
The table below is a production possibility table for the fictional country of Myopia. Use it to construct the corresponding production possibility curve.
Illustrate what were the percentage changes in nominal GDP and real GDP for the most recent quarter? What accounts for the difference.
Describe economic terms and concepts and describe your reasoning leading from concepts in question to the final answer.
Compare and contrast the monopolist and the monopolistic firm Monopolistic competition is an inefficient form of organisation. Discuss
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