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When looking at stores, you will find that competition will influence the market prices. The challenge that our economy is facing is that we need to monitor how many firms that are involved within an industry. What are the implications of these industry changes on prices within a market?
Let’s assume that you own a fast food restaurant and you are faced with many customers each day eating in the restaurant without any tables. Describe the difference between the short run and long run in the example to bringing about more tables for t..
A persone has a choice between an apple or an orange. the persone chooses the apple. Elucidate what is the opportunity cost of choosing the apple.
Now that we have learned that the Short-Run Phillips Curve (SRPC) shows the trade off between inflation and unemployment at the given natural unemployment rate and expected inflation rate, discuss which is worse, too much inflation or too much unempl..
Why is preference-based discrimination by employers easier to overcome than preference-based discrimination by employees? If arbitrage becomes extensive, a price-discriminating monopolist selling its patented drug in two markets will. Discrimination ..
Woodonia, the world's leading exporter of bespoke wooden furniture, produces the furniture at a per-unit cost of Q = P + 60 and the market demand is Q = 120 - P. Find and draw the domestic equilibrium. Find and draw the socially optimal equilibrium.
q1. alexs furniture mart produces and sells tables in a perfectly competitive market. when alexs furniture mart
GoodBite is interested in selling a new form of teeth whitening strips. They dissolve in your mouth and leave less of a gunky residue feeling than current competitors’ products do. White strips seem to appeal to people 20–29 years old. Should they l..
Why do we policies in place to correct for externalities that result from the use of fossil fuels but not for externalities that result from the color yellow or country music (or pick something you dislike that isn't taxed)?
A monopolist can sell 10,000 units at a price of $5 per unit. Lowering price by $1 raises the quantity demanded by 2,000 units. What is the change in total revenue resulting from this price change?
When Lisa was 16 years old, she bought a pedigree dog on credit for $1,200. While Lisa was a minor she made numerous payments on the contract price for the dog. The dog has now contracted a serious illness. Can Lisa avoid the contract and why? If so,..
The demand for a product is 700 units per week, and the items are withdrawn at a constant rate. The setup cost for placing an order to replenish inventory is $25. The unit cost of each item is $3, and the inventory holding cost is $0.05 per item per ..
q1. the herbivores society is selling mini bbq vegetable burgers for 3.00 each. if each individual student has the
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