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In a competitive market, the market demand is Qd = 400 - 5P and the market supply is Qs = 10P - 80. A price ceiling of $32 will result ina. a shortage of 80 unitsb. a shortage of 44 unitsc. a surplus of 26 units
d. neither a shortage nor a surplus
market power may produce a level of output greater than its profit maximizing level of output to gain market share and block entry of new firms. What challenges does the firm face to sustain this practice?
What is the maximum dollar amount your firm would be willing to pay in royalty fees to the Village Council every year for the monopoly right to sell gasoline in Fanjeaux?
You decided to open a restaurant, named FunMeal. FunMeal is a fast food restaurant with a very limited menu. What is FunMeals elasticity of demand? Is demand elasticity, inelastic, or neither?
Discuss the characteristics of monopolistic market in detail. Name five different companies that belongs to this market. Compare and contrast monopolistic competitive market with Oligopoly.
What is the Marginal Cost? What is the Average Cost? What is the optimal production level where production costs are the lowest per unit?
Suppose you suddenly realize that your demand estimates might have some uncertainty in them. How might you change value of surplus you give to the customers because of this?
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.
Keeping the Law of Diminishing Returns in mind, comment on the quality of teaching and learning that occur when a resident successively works her 60th, 70th, 80th and 90th hours in a week.
Honda uses flexible plans in the manufacturing of its cars. Discuss whether this method of production results in optimum output.
Why does your company not make any profits? Show graphically and explain and you convince the king that it is the patriotic duty of every citizen to eat more spam.
Explain what happens to the primary deficit in year t if the nominal interest rate in year t increases to 17%.
Firms in a competitive market are unable to dictate the price for which they sell an item for and over a long period of time will be unable to make an economic profit.
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