Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Question 1 a) Describe the characteristics of monopoly. b) What is the marginal cost of a firm operating in a perfectly competitive market if it charges the price of $15 per unit at the profit maximising output of 5000 units per week? c) Consider the situation for a firm, at the profit maximising level of output: price is $50, average total cost (ATC) is $55, and average variable cost (AVC) is $45. Should the firm continue operating in the short run? Explain. d) The diagram below shows demand and cost curves for a firm in a competitive market. Determine the profit maximising level of price, output, total revenue, total cost and total profit for the firm. What is the shut down point for the firm? Question 2 a) Describe the characteristics of monopolistic competition. Compare monopolistic competition with perfect competition in terms of price and output outcomes. b) Can a monopolistically competitive firm earn an economic profit in the long-run? Can a monopoly? Explain. c) What are the barriers to entry and how can a firm benefit from having a barrier to entry. Question 3 The payoff matrix above shows the profit ($mill.) for the two firms, A and B. If both firms make their decisions independently and focus on their self-interest, the dominant strategy equilibrium is that both firms charge ______ price and each makes ________ profit. If both firms focus on joint interest, the optimum strategy equilibrium is that both firms charge ______ price and each makes ________ profit. Question 4 a) Explain who will be the winners and the losers if inflation is lower than anticipated. a) Describe the cyclical and frictional types of unemployment. b) Refer to the following table and calculate • the labour force • the unemployment rate • the participation rate Population 23.0 million Working Age Population 17.8 million Employed 10.9 million Unemployed 0.6 million Question 5 a) Refer to the following table: Year GDP deflator Nominal GDP ($billion) 2010 95.5 1,100 2011 100.0 1,300 2012 102.4 1,400 2013 103.6 1,490 • What is the value of real GDP in 2010? • What is the growth rate between 2010 and 2011? • What is the change in the nominal GDP between 2011 and 2012? b) Do you think that GDP is the accurate measure of economic welfare of a country? Explain. c) What type of products are the most affected by the business cycle? Explain. Question 6 a) What is the cash rate? What is the MP? b) Recommend and describe a policy that the RBA should implement if a country faces the inflation. c) What are the open market operations (OMO) and when would the RBA carry them out? Describe the process and the effect on the AD. Question 7 a) Consider an economy that experience deep recession. Advise the government on fiscal policy it should implement to solve the problem. b) What types of fiscal policies are available to the government to solve the problem of recession/inflation? Describe. c) What is the federal budget? Are there any forces that influence the budget without an implementation of any explicit fiscal policy by the government? Explain.
Discuss the special ethical concerns that arise with each of the following issues: the use of computer technology and the Internet, record keeping, and multiple relationships.
Quality Assurance focuses on identifying exceptionally poor care - based upon the "Bad Apple Theory," and based upon the presumption that the best way to make sure quality was to identify bad apples and remove or rehabilitate them.
Short description of symptoms of memory changes during the lifetime, then compare the implications of expected changes in aging such as declines in working memory capacity
Critically analyze the diverse impacts of integrated resorts on the local community and on the environment of the site As a resort planner employed by the government, discuss the different mechanism which you can use to mitigate the negative impa..
What are some of the challenges therapists face in diagnosing this population?
An individual is brought into an ED with many injuries post car wreck. He had no identification and he was alone when his car went off the road and crashed.
Some papers provide details about the participants, such as gender and race, while others do not. Is the omission of participant information justifiable in some types of studies?
On Monday, Sam's Computer Company wires Bob's Computer Mart, "I have two IBM XT's for sale for $1700 each. You pay cost of shipping." Bob received the offer on Monday afternoon and wired back, "You have a deal. 30 days same as cash." On Tuesday mo..
What types of skills do you believe managers need to possess in order to successfully manage conflict in an organization?
What are the advantages and disadvantages of using a Cause and Effect diagram and Pareto Analysis in terms of analyzing quality issues?
What is the evidence that the importance of political parties may be declining?
Overview of the constitutional limitation of government power. Compare power national and state governments describe various types of gov grants.
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd