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Two firms, Alpha and Beta, are competing in a market in which consumer preferences are identical. Alpha offers a product whose benefit B is equal to $75 per unit. Alpha's average cost C is equal to $60 per unit, while Beta's average cost is equal to $50 per unit.
a) Which firm's product provides the greatest value-created?
b) In an industry equilibrium in which the firms achieve consumer surplus parity, by illustrate what dollar amount will the profit margin, P - C, of the firm that creates the greatest amount of value exceed the profit margin of the firm that creates the smaller amount of value?
What research the long-run effects of entry into monopolistically competitive industries on prices, output, and profits. Explanation must be substantive.
The 1st way is simply to utilize the price of the product in the exporter's home marketplace as the fair marketplace value.
You read in a business magazine that computer firms are reaping high profits. Assume that the computer market is perfectly competitive.
Explain how does the deposit primarily change the T-account of the local bank. How does it change the money supply.
When she hired a fourth worker, her total product increased but by only 1,000 bullfrogs. Yolanda pays $1,000 a week for equipment and $500 a week.
Which of the subsequent is directly included in the calculation of the GDP?
Assume Microsoft chooses to produce 80 million copies of the software per year and sells copies of the software to retailers at $199 per copy.
Suppose a monopolist's demand is given by the function P=25-3Q. Let the total cost of production be 7Q+28 for positive levels of output, and zero otherwise. Illustrate what is the profit maximising output.
What information would a government needs to increase the probability that its industrial policy would promote long-term self-generated economic growth.
If hard freeze eliminates Brazil's premium coffee crop, illustrate what will happen to the price of premium coffee.
If the Bank of Canada sells 100 million worth of bonds to the public in an open market operation. What level of output will the firm choose? Is the firm making a profit.
Using specific examples, relate the concepts of Cross Elasticity and Income Elasticity to this product.
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