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Social Dynamo Corporation earned profits last year of $49 million on sales of $500 million. During the same period, its major competitor - EIO Corp.- enjoyed sales of $490 million and earned profits of $52 million. Currently, Social Dynamo is negotiating a deal in which it would acquire the assets of EIO in a transaction Wall Street values at $120 million. A successful merger between the two companies is expected to raise prices in the market by 2 percent. Is Social Dynamo obligated to notify the U.S. Justice Department and the Federal Trade Commission of its merger intentions? Explain.
Cindy gains utility from consumption and leisure. The most leisure she can consume in a week is 168 hours.
Determine the profit-maximizing prices both firms will charge. In addition, calculate the price-cost margin for each firm and indicate which has more pricing power and why.
Describe what effect an expansionary fiscal policy would've on the price level and real GDP starting from full employment equilibrium.
Enrodes is a monopoly provider of residential electricity in a region of northern Michigan. Total demand by its 2 million households is Q4 = 1,000 P and Enrodes can produce electricity at a constant marginal cost of $2 per megawatt hour.
Use the firm's isoquant-isocost diagram and the firm's marginal cost curve to explain and illustrate the output and substitution effects of a decrease in the price of labor.
With the help of an AD-AS diagram, explain the effect on the price level and real GDP. Use an upward sloping AS curve and be clear about the interconnections among markets.
What was the growth rate of nominal GDP between 1999 and 2000? (Note the growth rate is the percentage change from one period to the next).
Prepare a table/graph for inflation in "your country" (use North Korea for the country; if no data is available, use India) for about the latest ten year period for which you have data.
The annual demand for coffee by the U.S consumers is Q = 250 - 10P. Compute the lost consumer surplus?
Answer whether the following statements are true or false, explaining your answer in each case.
Perfect competition guarantees allocative efficiency. A profit-maximizing monopolist can never be allocatively efficient.
Create another diagram; once again start from an initial macroeconomic equilibrium. Explain both the SR and LR impact of a contractionary AS shock on Y. Use the appropriate diagrams and provide a brief real world example of this type of shock.
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