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Problem 1:
How can a manager of a supermarket maximise total revenue using various concepts of elasticity of demand? Use examples to illustrate.
Problem 2:
What are the distinguishing features of a market where firms are price takers? How would such a market characterized by imperfect competition? Use diagrams where appropriate.
Problem 3:
It is observed that some firms keep making profits in the long run despite no barriers to entry. Explain the reasons and possible strategies for such persistence.
Problem 4:
How can firms extract consumer surplus from their customers? Use examples to illustrate.
Problem 5:
(a). Explain why despite decreases in marginal cost, price may remain unchanged in an oligopoly setting. Use example to illustrate.
(b). Explain how equilibrium is reached in a Cournot model. Illustrate why would firms in such a model wish to collude? Use examples to illustrate.
(c). What factors can affect the decisions to sustain collusive agreements?
A " properly mixed strategy " means a mixed strategy that does not assign all the probability to one pure strategy. In other words, it is not a pure strategy. Consider a simultaneo
Law of conservation of mass was proposed by Lavoisier & verified by Landolt. According to Law of conservation of mass law Matter is neither created nor destroyed in the course of c
explain stages and various coordination mechanism involved in policy process
Discuss how the opportunity cost principle influence a supplier''s decision to supply labour
need to get assignment on income effect and substuation effect how does increase in price of both comodity will affect the or show the new effect
What types of questions would concern microeconomics, versus macroeconomics? Microeconomics concerns itself with decision-making of individual consumers, firms and other organ
this is a project I need help answering the questions
Increasing returns to scale and decreasing returns to scale: Increasing returns to scale occur when increases in all inputs by a certain percentage cause a relatively higher p
marries model
Before explaining returns to scale it will be instructive to make clear the distinction between change in the scale and changes in factor proportions. The difference between the ch
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