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A company is manufacturing output in a competitive market, where demand isP = 24 - 2QThe marginal private expense of production is equal to $4 and the marginal social cost is $2. Describe the nature of the market failure and derive the Pareto optimal level of output. How could the Government ensure that the market produced the optimal level?
Choose any 2-of the 4-basic strategies used to preserve security and identify and explain what assumptions are created about the opponent based each of the two strategies that you select.
New Light Corporation has just created a solar panel capable of generating 200 percent more electricity than any solar panel currently on the market. As a result, New Light is expected to experience a 15% yearly growth rate for the next 5 years.
Is the main outcome of economics (high standard of living) the only relevant question in the realm of economic analysis? Do you agree? Is quality of life also significant?
United States winter wheat production rise dramatically in 1999 after a bumper harvest. The supply curve shifted rightward; as a result, the value reduced and quantity demanded increased
Explain how a item might evolve from one market structure to another and what that means as to the value, competition and number for companies producing that product.
This question is intended to understanding of the basic Ricardian model by having you work through a problem on your own. There are two nations, Canada and United States, and two goods X and Y.
What are the efficient quantities for each of the two periods? What are the correspondingprices and MUCs?
What is the law of diminishing marginal productivity? How does it differ from average productivity?
Compute the profit maximizing output produced by each firm. Compute the profits earned by each firm and the cartel.
An economist for the widget company estimated following short term production function. Compute the AP and MP mathematically and identify the three stages.
In the competitive market at a price of $50 and cost function of C=50+5Q2 find out the maximum profit? Show how the solution was reached.
Since a monopoly is the only source of supply, customers are entirely at its mercy. There is no limit to the price the monopoly can charge.
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