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An industry has two firms, each of which produces output at a constant unit cost of $10 per unit. The demand function for the industry is q(p) = 1,000,000/p. Give the best-response function for each firm. What is the Cournot equilibrium price for this industry?
Which one of these factors plays a role in determining the extent and duration of frictional unemployment?
“When two countries trade each one can specialize and the combined output will be higher which expands consumption possibilities of both the countries”. Do you agree? Explain your answer.
Where does this short-run aggregate supply curve intersect the long-run aggregate supply curve that you drew? Just need an explanation of what it woudl look like?
1. Who are the three best-known quality pioneers? Describe and then compare their individual contributions to quality. 2. Look through the ITT Tech Virtual Library and identify a major company that adopted one or more of the pioneers' strategies. Sug..
An article in the Wall Street Journal reported that large hotel chains, such as Marriott, are tending to reduce the number of hotels that they franchise to outside owners and increase the number the chain owns and manages itself. Why would Marriott w..
According to the Wall Street Journal, Mitsubishi Motors recently announced a major restructuring plan in an attempt to reverse declining global sales. Suppose that as part of the restructuring plan Mitsubishi conducts an analysis of how labor and cap..
By definition, the elasticity of total cost is the ratio of marginal cost to average cost; for the total cost function TC = 0.4Q2 + 40, find the elasticity of total cost at Q=5, Q=10, and Q=20 units of output.
Over the past decade, new computer technology has enabled firms to reduce substantially the amount of inventories they hold for each dollar of sales. Illustrate the effect of this change on the market for loan able funds.
After graduation you face a choice. One option is to work for a highly regarded consulting firm and earn a starting salary (benefits included) of $55,000. The other option is to use $12,000 you have in savings to start your own consulting firm. Based..
Which of the following best describes a policy which moves the economy to the left and up along a given short-run Phillips Curve?
There are two firms that are producing identical goods in a market characterized by the inverse demand curve P:60 -2Q, where Q is the sum of Firm l's and Firm 2's output, qft qz. Each firm's marginal cost is constant at$12, and fixed costs are zero. ..
.Compute by how much monetary policymakers mllst change the nominal money supply for the expectations of firms and workers to be realized.
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