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The figure above represents Athina's pool supply store, a monopolistic competitive firm. Explain your answers.
a) What quantity will be produced?
b) What price will be charged?
c) What is Athina's total cost?
d) What is Athina's total revenue?
e) What is Athina's economic profit or loss?
f) Is this a long-run equilibrium? Why or why not?
Past experience has explain how that an 80% learning curve applies to the labor required for producing these units. The time to complete the first unit has been estimated to be 1.76 hours.
In February 2003, Germany’s patent office proposed a solution to reimburse copyright holders for illegal digital file sharing: charging personal computer manufacturers a fee of $13 per computer that would go into a special fund to reimburse the copyr..
If you go to a department store one week before the summer, what might you notice about your favorite brand of jeans? The supply has increased since nobody is buying them. The supply has increased because they’re too expensive. The supply has decreas..
Which of the following is not one of the explicit functions of the Federal Reserve granted by Congress?
The work by Milton Friedman altered the consensus that had developed in the aftermath of the Great Depression on how the economy should be managed. As a result, the current goal of economic policymakers is to: reduce the magnitude of both downturns a..
How do legal restrictions on practice for nurses and physicians tend to affect the observed elasticity’s of substitution? Would elasticity tend to be higher if legal restrictions were removed? Would quality of care be affected?
Should the advertising budget be changed for the upcoming year? How should it be done? Should you develop a new product for an existing product line? What must you decide?
What are the differences and similarities between a defined contribution plan and a defined benefit plan? As an employee, would you rather have a defined contribution plan or a defined benefit plan?
Compute the straight line and SOYD (sum of year digits) depreciation. Show the annual allowances and the resulting book values using both methods in a tabular format.
The own price elasticity of demand for gasoline is estimated to be 0.6.
Before the war, Iraq had the capacity to produce a certain amount of oil from its oil wells. After the war, it found that capacity greatly diminished because the oil wells were on fire. Draw Iraq’s PPF before and after the war, assuming that the only..
A no production economy has 2 consumers (A and B) who each consume two different goods (x and y). Person A is endowed with (120,270) and has a utility function Ua(Xa,Ya)=X^(2/3)Y^(1/3). The initial endowment, the IC that go through the initial endowm..
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