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Why is it that firms can earn profits in the long run in monopoly and oligopoly but not in monopolistic competition and perfect competition? What can firms do in monopolistic competition or perfect competition to make the short run last as long as possible since they can only make profits in the short run? Have you observed any firms employ such tactics?
illustrate what is the profit maximizing quantity that should be offered to Group B
Suppose that John Smith gets promoted to a job that causes two changes to occur simultaneously: John earns a higher wage, and a safer environment causes his health to depreciate less rapidly. How would these two changes together affect John’s desired..
Identify three types of competition that most firms encounter other than competition from other firms in their industry in their home country.
Explain the connection between the vertical long-run aggregate supply curve and the vertical long-run Phillips curve.
The student then writes a summary of each article, followed by a comment on each one. The summary should demonstrate that the student understood the article as written, without any evaluation or opinion whatsoever.
Describe the Harrod-Domar growth model, and explain precisely how the model illustrates dynamic instability. Why is it often called the “knife’s edge model”?
What is Anna’s optimal choice of comic books and AOG? Illustrate her optimal choice on a graph, using indifference curve-budget line analysis.
A production process exhibits economies of scale if:
Managers are responsible for ensuring fair and accurate financial reporting. Managers also have inside information that can aid their estimates of future outcomes. Yet, managers face incentives to strategically report information in their best intere..
What is the payoff table? If the firms act independently what advertising level should each choose? Could the firms profit by entering into an industry wide agreement concerning the extent of advertising?
Elucidate how Elucidate how an increase in the marketplace demand elasticity affects the elasticity of the residual demand curve.
How might this impact stock price in the short term? How do you believe that management deals with these two sometimes competing goals?
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