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Suppose all firms in a perfectly competitive industry have the same short run labour demand curves. under what circumstances would the industry short run labour demand curve have the same elasticity as that of a representative firm in this industry? which of the four laws of derived demand are important here? explain your reasoning.
Give a specific example for each ( US Companies ). Which one is better market from the stand point of producers? Which one is better market on the stand point of consumers?
The consequences of decriminalizing illegal drugs have long been debated. Some claim that legalization will lower the price of these drugs and reduce related crime. Others claim that more people will use these drugs.
Jet Set Travel, Inc. (JTI) has been hugely successful in the distribution of stylish, comfortable shoes for travel. Please describe how non-value added costs can damage the company, it sales, it costs, and it's value chain
Long-run supply curve in a constant-cost industry is linear and shut down because it will no longer be earning a normal pro?t.
The firm faces a constant marginal revenue curve given by:MR = 200 and how should the firm allocate production?-How much should Factory #1 produce and how much should factory #2 produce?
The demand for new homes in the United States is often described as highly cyclical and very sensitive to housing prices and interest rates.
What is total variable cost when 100 units of output are produced and what is average fixed cost when 150 units of output are produced?
Draw a graph of the market for banana. What are the equilibrium price and quantity and calculate Rie's income elasticity of demand for beef. Show your calculation.
ABC is monopoly seller of aluminum in United States and sells no aluminum on world market. It sells aluminum domestically for $2500 per ton and its average expense is $2200 per ton.
Find the expected value of X. Show your work and find the variance of X. Show your work and calculate the cumulative distribution function
Describe the major characteristics of monopolistic competition and oligopoly.
farmers to lose fund since the demand for food is inelastic meaning the price refuse proportionally faster than increase in quantity sold.
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