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1) characterize the long run equilibrium of a perfectly competitive industry in which average costs are U-shaped as output increases, under both restricted and free entry. b)Discuss the senses in which a perfectly-discriminating monopolist is efficient or inefficient
2) consider an oligopoly in which the inverse demand function p(∑xi ) = a-b∑xi,a,b > 0,and each firm's costs c(xi)- cxi, 0 < c < a. first, given n, determine the cournot-nash equilibrium outputs, profits, deviation of price from marginal cost, and deadweight loss. Then prove that all of these approach zero asymptotically as n tends towards infinity. Comment on the significance of these results.
Define the term total quality management in short. Total quality management (TQM): Total quality management is the procedure of embracing a quality conscious philosophy o
Role or Forecasting in capacity Planning The marketing department plays a major role in providing demand forecasts based on which both long term as well as short term capacity p
A system program that combines the separately compiled modules of a program into a form suitable for execution A. assembler B. linking loader C. cross compiler D. load
What is a capacity cushion and why would a firm have one?
A firm plans to begin production of a new small appliance. The manager must decide whether to purchase the motors for the appliance from a vendor at $7 each or to produce them in-h
Advantage of Least Cost Method a. This method provides accurate solution as transportation cost is consider while making allocation. b. It is very simple and
How can efficiency of purchasing processes be improved?
Noted organization theorist said, "Pressure for change originates in the environment: pressure for stability originates within the organization." Do you agree? Discuss
Identify five key economic variables that could represent major opportunities or threats to a bank in your town or city. Identify which that you believe to be most important, and d
Which of the following is true? MPC can run independent of the operation plan. Business failure can result from poor MPC performance. In PAC, order release directly affect
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