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You are the manager of a firm that produces and markets a generic type of soft drink in a competitive market. In addition to the large number of generic type of soft products in your market, you also compete against major brands such as Coca-Cola and Pepsi. Suppose that, due to the successful lobbying efforts of sugar producers in the United States, Congress is going to levy a $0.50 per pound tariff on all imported raw sugar- the primary input for your product. In addition, Coke and Pepsi plan to launch an aggressive advertising campaign designed to persuade consumers that their branded products are superior to generic soft drinks. How will these events impact the equilibrium price and quantity of generic soft drinks?
Calculate the arc price elasticity of demand over this price and consumption quantity range.
What impact, if any, will this have the firm's AFC (average fixed cost), AVC (average variable cost), ATC (average total cost) and MC (marginal cost) and therefore these cost curves? Why?
You are debating whether to reduce the risk by applying for the import license now and wait until it has been approved before committing yourself to purchasing the crude oil. The dilemma is that another petrochemical company may secure the deal be..
Use aggregate demand (AD) and aggregate supply (AS) model in which the short run aggregate supply curve slopes upwards to describe the equilibrium level of real GDP and prices if the economy is operating:
Suppose Japan agreed to a voluntary export restriction which reduced US imports of Japanese steel by 10 percent. What would be the likely short-run effects of that VER on the U.S..
Elucidate several dimensions of the shareholder-principal conflict with manager-agents known as the principal-agent problem.
If the government imposes a quantity tax on the consumption of a good, it means that the consumer has to pay for each unit of the good its price plus the tax.
measure used to calculate the price level and measure used to calculate the cost of borrowing money.
During the late 1990s, several mergers among brokerage houses resulted in the acquiring firm paying a premium on the order of $100 for each of the acquired firm's customers.
Describe how a budget constraint of a house hold in a two-period model is affected by each of the following changes. In each case, do you think the household is better off , or worse off, or is it ambiguous.
Simultaneous changes in supply and demand affect equilibrium price and quantity in various ways, depending on the relative magnitudes of the changes in supply and demand. Equal increases in supply and demand, for example, leave equilibrium price u..
Find out the price elasticity of demand regarding to the money price using "arc elasticity."
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