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Jersey Imports, Inc., markets electronic devices imported from Thai producers. The company recently introduced an innovative and enormously successful 5 GB Joystick (computer memory device), but a flood of competitor entry and downward pressure on both prices and profits is expected during the coming year. A. Use Jersey Imports' price, output and total cost data to complete the following table: Price per unit Output (000) Total Revenue ($000) Marginal Revenue ($000) Total Cost ($000) Marginal Cost ($000) Average Cost ($) $50 0 $ 600 48 100 5,000 46 200 9,200 44 300 13,200 42 400 16,700 40 500 20,100 38 600 22,800 36 700 25,200 B. Assuming cost conditions remain constant, what is the monopolistically competitive high-price/low-output long-run equilibrium? C. What is the monopolistically competitive low-price/high-output equilibrium? (Note: This is also the perfectly competitive equilibrium.)
q1. in your opinion in your own words should the united states lead globally? explain why or why not?if yes illustrate
Describe the key differences between simulation models and the models covered in previous modules; not only from the perspective of their applications, but also from the perspective of computing/solving the models had(Previous models included multipl..
Distinguish between discretionary and nondiscretionary fiscal policy. Which is most effective at combating unemployment? Which is most compatible with a "free" market?
Calculate the returns to scale, marginal productivity, and state which of the functions defines a convex feasible region over their entire usage?
analyze the sexual harassment issues presented in scenario.
Suppose that in a day a worker in the United States can produce 10 bushels of corn or 2 shirts. In Russia a worker can produce 9 bushels of corn or 3 shirts in one day. Which of the following would benefit both the United States and Russia if trade o..
Otto’s Autos buys cars for resale from the manufacturer at the price of $10,000 per car. Assuming there are no other costs, draw Otto’s total, marginal, and average cost curves. Suppose Otto launches a new ad campaign that costs $100,000. On a separa..
Graph Daniel’s budget constraint with potato chips on the vertical axis. Also write down the corresponding budget constraint equation. Then suppose that Daniel’s income increases to $60, what’s the change of Daniel’s budget line? Shortly after the in..
Think of any financial innovation in the past ten years
Elucidate how much income did this represent for each of the 300 million U.S. citizens. Illustrate what was the largest GDP decline in a postwar U.S. recession.
Two months after it began selling the food, its pet food sales declined dramatically because a competitor across the street started selling the identical food for $ 22 per bag. Should Roscoe's Rascals match the price offered by the competitor.
In a perfectly competitive industry, the price of good A is $2. If a firm in this inudustry decides to increase its price to $2.50, it will:
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