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State whether the following characteristics represent monopolistic competition, oligopoly, or both.
a. Many sellers
b. Mutually interdependent decisions
c. Multiple dimensions to competition
d. Differentiated products
e. Few sellers
f. Easy long-run entry and exit
Twenty randomly selected statistics students were given 15 multiple-choice questions and 15 open-ended questions, all on the same material. The professor was interested in determining on which type of questions the students scored higher.
Expecting that wool prices would remain high, wool producers raised a lot more sheep.
q.assume that when an economy has a gdp of 500 consumption is 550. the mpc is .75. investment is 25. begin the problem
Illustrate what would be new equilibrium if re is an increase in autonomous import expenditure from 100 to 200 which result from an increase in currency exchange rate.
Assume that a firm employs labor and capital by paying $40 per unit of labor employed and $200 per hour to rent a unit of capital. What is the firm's optimal combination of capital and labor?
assume which the benefit to the villagers of each additional cow grazing on the commons declines as more cows graze
government official proposed which gasoline price controls be imposed to protect the poor from rising gasoline prices.
Assume that the low-calorie frozen, microwavable food company from Assignments 1 and 2 wants to expand and has to make some long-term capital budgeting decisions. The company is currently facing increases in the costs of major ingredients.
The research department of Wilson has discovered a new technology on how to make more durable tennis balls and is considering whether or not to adopt the new technique.
Assume the firm is operating in a high-wage country, where capital cost is $100 per unit per day and labor cost is $80 per worker per day. For each level of output, elucidate which technology is cheapest.
Two companies compete for a share of the soft drink market. Each worked with an advertising agency in order to develop alternative advertising strategies for the coming year (e.g., a variety of television advertisements, product promotions, in-sto..
If collusion is not allowed, what kind of market arrangement do you think is likely to result from competitive interactions among these four firms? Calculate the profits of these firms in either case (a and b).
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