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One hundred compressors of 200 H.P. rating are being considered for purchase by the state highway department. The consumer price index was 400 five years ago and is 520 today. The cost of 150 H.P. compressors bought five years ago is as follows. For the first 50 compressors the cost was $2,000 per unit, and for the second 50 the cost was $2,400 per unit. Find the cost of 100 compressors of 200 H.P. rating today.
Find the revenue earned by each bakery. From that revenue subtract the bakery's variable cost and compute the firm's short run economic profit.
Increasing jet fuel values recently led most major United States airlines to raise fares by approximately 15%. Describe how this substantial increase in airfares would affect the following;
Determine how the following situations will affect the demand curve for ipods.
In 2005, APEX received a tax credit for production of its solar panels through the US Department of Energy's Energy Efficiency and Renewable Energy procurement plan.
What are your recommendations to the current administration considering the state of the economy and the level of national debt? What are the implications of your recommended course of action?
Describe the difference between monopoly and oligopoly, the welfare effects of monopoly, cost advantages that create monopolies, government actions which create monopolies.
Assume that the market demand for broccoli is given through Q=1000-5P and the market supply of broccoli is given through Q=4P-80 where Q is quantity per year measured in hundreds of bushels
Describe how a firm in a Monopoly market maximizes its profits and minimizes its losses in the short term and in the long term. Can a Monopoly make a profit in the long term?
Describe the difference between a movement along the demand curve and a shift in demand and determine what factors cause the supply curve to shift? describe each factor.
Assume monopolizing a service or product of your choice. Discuss how you would go about setting prices for your product or service.
Assuming no population growth or technological progress, find the steady state capital stock per worker , output per worker, and consumption per worker as a function of the savings rate and the depreciation rate.
What difference does it make, if any, if technology is moving very fast in the market so that this game proves to be one-time-only simultaneous play?
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