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Given the following demand and total cost functions for a firm
P = 4500 - 0.5Q2
TC = 1.5Q3 - 50Q2 + 1000
i) the marginal profit function
ii) the profit maximizing output level
iii) the price elasticity of demand, given that Q = 50 units
"If for a certain market, the concentration ratio CR4 (the combined market share of the 4 largest firms) is 1, its Herfindahl index is at least 0.25." Describe the given statement.
ECM101 – MICROECONOMIC POLICY ASSIGNMENT 1 General Guidelines: This assignment comprises two sections and you must answer all questions in each section. Answers must be explained
What main features are found in oligopolies? Assumptions of oligopoly Four or five firm concentration ratio Frequently there are benefits of scale to be had Merg
graphical illustration describing the influence of an increase in immigrants on the market supply of labour
Rationale of Group Project Group project allows you to pursue authentic learning with your peers, and to apply theories taught in class and textbooks to real world situations.
PRICE ADJUSTMENTS UNDER FIXED EXCHANGE RATE: In a flexible exchange rate regime trade deficits (surpluses) are automatically corrected by a depreciation (appreciation) of a co
how do I explain the hicksian and slutsky theory of consumer behaviour in an examination
what is supply and demand
Problem: i) Differentiate between economic development and economic growth. ii) Describe carefully how, using the expenditure approach, national income is calculated. ii
what is profit maximization..
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