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1. Draw a monopolistic competitor in long run equilibrium. On the same graph draw the long run perfect competition equilibrium.
2. Describe why a monopolistically competitive market cannot reach the same equilibrium as perfect competition in the long run.
If a competitive firm is currently producing a level of output at which profit is not maximized, then it must be true that marginal revenue exceeds marginal cost.
Some states have had laws restricting the sale of most goods on Sunday.oppose such laws because they find Sunday afternoon a convenient time to shop.
*Dayan's Doorstops, Inc. (DD) is a monopolist in the doorstop industry. Its cost is C = 100 - 5Q + Q2, and demand is P = 55 - 2Q. a. What price should DD set to maximize profit? What output does the firm Produce? How much profit and consumer surplus ..
Describe and explain EIA's forecast for the price of gasoline, coal and natural gas. Identify the factors that are affecting the forecast. Discuss specifically the impact of shifts in supply, shifts in demand, and examples of substitutions
newspaper vending machines are designed so that once you have paid for one paper you have access to all the papers in
Demand for a managerial economics text is given by Q=20,000-300P. The book is initially priced at $30.00. Write the demand equation for which the price elasticity of demand is zero for all prices.
The atmospheric pressure of 100k Pa acts on the other side of the piston. The gas is heated until the volume is doubled and the final pressure is 500 kPa. Calculate the work done by the gas.
Two of the four market structures, pure competition and monopoly, were covered in unit two. The other two, oligopoly and monopolistic competition, are part of unit three. Make sure you don't confuse monopoly with monopolistic competition.
use stata to analyze the data listed in the file anovadata.xlsx. the data are changes in fat-free mass in women after
Do we need a central bank? Discussion post needs to be 300 words based on Economics: Private and Public Choice by James Gwartney and Russel Sobel
Illustrate with a graph how the PPF presents a strong rationale for the plausibility of the law of supply and supply and demand graphs indicating the change in equilibrium price and quantity.
If a price ceiling is set below the market equilibrium, what will happen to the quality and future availability of the good.
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