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In Pennsylvania, wine and liquor can only be purchased from "state stores," which are stores that are owned and operated by the state government. According to an analysis by Katja Seim of the University of Pennsylvania and Joel Waldfogel of the University of Minnesota, if the state of Pennsylvania were to allow unlimited entry of private liquor stores, the number of stores would increase by 2.5 times and consumer surplus would increase by 9 percent. Are these results sufficient to decide whether the state of Pennsylvania should abolish the system of state stores and allow free entry of private stores? In your answer, discuss the distinction between positive and normative analysis.
Production costs chargeable to the finishing department in June for the Cascio company: Materials: $16,000, labor: $29,500, overhead: $18,000, equivalent units of production/materials: $20,000, conversion costs: $19,000
what are the major changes in form that books have taken through time? currently e-books are proving to be the wave of
unique creations holds a monopoly position in the production and sale of manometers. the cost function facing unique is
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Discuss any recent purchases you have made and for which you feel that a similar rational seemed to be at work
The problem belongs to Economics and it is describe about calculating the number of units of output for profit maximizing and the price to be charged and the predictions for the long run, etc have been given.
The potential for conflict is greatest where group members are younger and turnover is high.
A monopoly is considering selling several units of a homogeneous product as a single package. A typical customer’s demand for the product is Qd = 120 - 0.5P, and the marginal cost of production is $150. Decide the optimal number of units to put in a ..
Critically analyze the pros and cons of putting a price ceiling on prescription medicine. Make sure to use concepts from the chapter in this unit such as government intervention, inefficiencies, price elasticity, etc. in your answer.
If you decide to use $34,000 as your working estimate of marginal costs, what increase in Custom's purchases would be necessary for the proposal not to reduce GM's profits on this account?
A $5,000 face value bond has 4 years to its maturity. The market price of this bond is $5,100. If the YTM of this bond, calculated using the approximation method, is 2.475 %, what is the coupon rate of this bond?
Consider the market for carbonated water and suppose that demand is given by D(p) = 100 – 5p There are only two firms producing carbonated water, each with the same constant unit cost c = 2. What are the equilibrium prices and quantities if the firms..
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