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Alpha Industries operates in a highly competitive market. While there are a few other firms in the industry due to the high fixed costs of building plants, rival firms are very aggressive in their pricing strategies. Of the products sold in the industry, over 90% have 10 years of patent protection remaining. Does this industry meet an economist’s definition of a perfectly competitive industry? Explain
Vietnam employs 40 million tons of rice a year. World price os rice is $500 per ton. Vietnam employs 10 million people in rice production with each working an average of 1000 hours a year. Which economy, California or Vietnam, has an absolute advanta..
Some economists have suggested that the best way to control medical costs is to remove the profit incentive for health care providers, particularly hospitals.
The component of Planned AE (the quantity demanded of GDP) MOST sensitive to a change in interest rates is....
If the resource prices faced by a firm rise, the result is a(n) The law of supply says that
Sketch a graph which shows the lost gains from trade that result from having a monopoly.
For given input prices, more expensive bundles of inputs are associated with:
illustrate what will be profit-maximizing or loss-minimizing output, Elucidate. Illustrate what economic profit or loss will industry realize per unit of output.
A university registrar who uses her experience with university admissions along with your high school grades, application essays, letters of recommendation.
How businesses are affected by unemployment? What is full employment? What is inflation? If the economy is experiencing inflation, how will it affect an individual or household? What are the two main types of inflation?
Suppose that each worker in the Foreign country can produce two cars or three TVs. Assume that Foreign also has four workers. Graph the production possibilities frontier for the Foreign country. What is the no-trade relative price of cars in Foreign?
If the central bank (the Federal Reserve) keeps printing money and lowering the interest rates to get consumers buy and businesses to borrow money, then the economy will improve. Do you agree with the statement?
When the work was complete, Chuckrow paid Gough the original contract price but refutilized to pay him for the additional cost of reerecting the trusses.
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