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Explain why each of the following might serve to deter entry of a competitor.
(a) Maintaining excess production capacity
(b) Promising customers that you will undercut any rival
(c) Selling your output at a price below that at which marginal revenue equals marginal cost (Hint: Assume entrants are unsure about what your marginal costs are. Why would they be deterred from entering if they believed you have low marginal costs? Why might a lower price lead them to think that you had low marginal costs?)
(d) Offering a discount to customers who sign up for long-term contracts
It is well documented that carbon monoxide (CO) emissions from combustible engines increase in colder climates. This implies that damages are expected to be less severe in summer months than in winter. Nonetheless, air quality control authorities..
Should Wang take the quantity discount?
Swapna David is a customer assistant consultant for Acme Information Systems, who provides assistance for computer users. The mean number of calls per hour is 40 from across the United States and calls are independent.
Assume the economy is at equilibrium and output is at 20,000. Arightward shift in the supply curve shows that the economy canproduce 26,000 at the same price as before. Where will output be atthe new equilibrium
Which of the following microeconomic tools aids monopsony employers in identifying the required wage level?
Now calculate the same elasticities at P = $12.
Consider a demand function x = 100 - p where x is output and p is price. A monopolist has cost C(x) = (1/3) x^3 - 7 x^2 +111x +50 Find the profit maximizing output (and price) such that x 0. Check to see if you have a local max or min and also chec..
Suppose advancing technology (e.g., the miniaturization of electronic circuits) increases the productivity of the 90-
A heavily indebted government may end up in a vicious circle, where increasing debt leads to higher interest rates and lower growth, which increases debt even faster with subsequent even higher interest rates and lower growth etc.
The expression "2/10, net 30" means that the customers receive a 2 percent discount if they pay within 10 days; otherwise, they must pay in full within 30 days. What would the sellers's cost of capital have to be in order for the discount to be co..
suppose that increase in input price does not occur but instead the productivity increases by 100 %. What would be new cost per unit of production What effect would it have on agg supply curve?and the price level andreal output
A spike in the unemployment rate - the biggest in more than two decades - raised new concerns Friday that a weak labor outlook, high oil prices and continuing woes in the housing and credit markets are leading the U.S. economy into a painful reces..
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