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One of these firms is considering opening up a new product line, in a market in which it would be the only firm. So, adjusting the notation to now capture demand in the monopolistically competitive industry with Q1(p1) = 140 − p1, and the demand it would face in the new second market with Q2(p2) = 100 − 2p2, what should the firm do? Assume that the firm faces costs equal to C(q1, q2) = 25 + 40q1 + 0.5q 2 2 + q1q2.
The knowledge is about Theory of Industrial Organization.
The net result was the Japan's automobile industry improved its productivity throughout this period relative to the US, which generally just kept up with inflation due to its already high rate of accumulated experience also relatively slow growth.
A concerned Congress votes to impose a price floor $2 above the equilibrium price. Illustrate what is the new market price.
Explain how does the existence of money reduce the costs of making transactions relative to a society based entirely on barter.
Assume you are the plant manager for Crossroads Sign Company, which produces road signs in a market that approximates perfect competition. Due to a slow economy, business has been slow and the company is losing money every month.
Explain how would you expect each of the following events to affect the amount they save each month.
Suppose we refused to sell goods to any country that reduced or halted its exports to us. Who would benefit and who would lose from such retaliation. What could you suggest alternative ways to ensure import supplies.
Two students, Ryan Wattenberg and Emma Bennett, are discussing the idea of convergence over coffee. Ryan considers convergence to be true in theory but impractical in the real world. Most developed countries do not have similar resources endowments. ..
Most members of labor unions work in the public sector, industries that are regulated, or industries in which production is concentrated into a few firms.
VML Industries has need of specialized yarn manufacturing equipment for operations over the next 3 years. The firm could buy the machinery for $95,000 and depreciate it using MACRS (this is a 7-year property). Annual maintenance would be $7500, and i..
In the Jehle and Reny textbook (which I should add I have not read much of beyond a few sections of interest), a theorem stating that there is always a (mixed) Nash equilibrium in finite strategic form games is proven. Similarly, I would also suspect..
If, in the context of a standard production function, Y = F (K,N) where K represents physical capital and N represents raw labor, we were to interpret the Solow residual (?A/A) as “technological progress,” we would be in error. What, besides technolo..
A market with barriers to entry may not be characterized by production at the minimum ecient scale in the long run. The Diamond-Mortensen-Pissarides model successfully explains the phenomenon of unemployment, while competitive market models ( earlier..
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