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Describe and discuss the model of perfect competition and adopting strategies to gain market power in the competitive industries.
Show the impact on the equilibrium price and quantity that results from; (1) an increase in demand and (2) an increase in supply.
Assume that the price was 5% lower and all other factors do not change. How much more would you buy each year? Using this information, compute the own-price elasticity of your demand.
Suppose an economy of two firms and two consumers. The two firms pollute. Firm 1 has a marginal savings function of MS1(e) = 5-e where e is the quantity of emissions from the firm.
Read the rules of the game, the overview and the almanac for the Development Game "Settlers of Catan"
When the CR = 80%, is the market efficient when the market behavior follows the price leadership model?
Current economic theory and their application or lack of application to contemporary economic problems
Assume the firm can produce 5000 units of out put by combining its fixed capital with 100 units of labor and 450 units of raw materials. What are the total cost and average total cost of producing 5000 units of output?
Write down the household's budget constraints for period 1 and 2 and identify the current account.
Illustrate out the term game theory? describe it with the situation in which game theory is applicable, along with any description of the two rival's strategies.
Determine the short run average variable cost and the marginal cost functions. Determine the output level that minimizes short run average variable costs
The average 15-year old purchases 12 CDs and 15 cheese pizzas in the typical year. If cheese pizzas are inferior goods, would the average 15-year old be indifferent between receiving the $30 gift certificate at local music store and $30 in cash?
What key economic concepts underlie the employ of discount coupons by businesses?
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