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Do business firms operating in competitive markets have a strong incentive to serve the interest of consumers? Are “good intentions” necessary if individuals are going to engage in actions that are helpful to others? Discuss.
Prepare a 2 page paper using APA format discussing Airline Ticket Prices.Explain the rationale behind equal prices for unequal distances in air travel using supply, demand, and cost curves.
What is true about the relationship between marginal revenue and marginal costs when profit is the greatest?
Suppose the Clean Springs Water Company has a monopoly on bottled water sales in California. If the price of tap water increases, what is the change in Clean Springs profit-maximizing levels of output, price, and profit
What level of output will these firms produce in the short run and are these firms operating under perfect or imperfect competition?
Institutional economics, especially applied to metropolitan areas, highlight problems with human capital theory and help us better understand wage differentials. Explain factors that shape wage differentials by metropolitan areas.
Students at the University of California, Los Angles, enjoy select privileges. One is a good education at a low price. Another is California’s unbeatable weather, and a third is access to discounted movie tickets
The inverse market demand in a homogeneous-product Cournot duopoly is P = 100 – 2(Q1 + Q2) and costs are C1(Q1) = 12Q1 and C2(Q2) = 20Q2.
Explore the assumptions underlying price elasticity of demand and apply them to the above set of circumstances. do you believe the computation of elasticity is an indicator price sensitivity? explain.
The forecasted demand for fudge for the next four months is 140, 160, 90, and 70 pounds. What is the recommended production rate if the level strategy is adopted with no back orders or stockouts
Suppose that you have to charge a uniform price. That is you post a price and one canbuy as many units as one wishes at that price. What would be your price?
Describe the difference between average revenue and marginal revenue .why are both of these revenue measures important to a profit-maximizing firm?
Why does increasing productivity index effect the total product and marginal cost When the productivity index is moved from 0% to 25% Total product increases and the marginal cost decreases.
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