Industry''s long-run supply curve, The Industry's Long-Run Supply Curve ...

The Industry's Long-Run Supply Curve * Long-Run Elasticity of Supply   1) Constant-cost industry Long run supply is horizontal Small increase in price will induc

Baumol tobins inventory model, Under specified assumptions, derive the squa...

Under specified assumptions, derive the square-root formula of the Baumol-Tobin's inventory model of transactions demand for money and briefly describe the effect of a one period i

Production, define and explain theory of production?

define and explain theory of production?

Pareto optimal and second best theory, note for assignment

note for assignment

Features of monopolistic competition, Features of monopolistic competition:...

Features of monopolistic competition: Large number of firms in the industry. There are many small firms each supplying only a small share of the total market output. Hence, no

Explicit costs, Joe is the owner-operator of Joe’s Haircuts Unlimited. Las...

Joe is the owner-operator of Joe’s Haircuts Unlimited. Last year he earned $100,000 in total revenues and paid $65,000 to his employees and suppliers. During the course

The lower the value MR of monopolist ,

Consumer behavior, problem solving

problem solving

Cross-price elasticity of demand, Cross-Price Elasticity of Demand is expla...

Cross-Price Elasticity of Demand is explained below: Cross price elasticity of the demand is the percentage change in the quantity demanded of a particular good, with respect t

Representative consumer faces a wage income tax, suppose, as in the federal...

suppose, as in the federal income tax code for the united states, that the representative consumer faces a wage income tax with a standard deduction. That is the representative con