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There are many economists that cringe at the words: oligopoly and free market together. To them, it is an oxymoron, unjust and plain down 'wrong'. Why do you believe that is the case? Isn't an oligopoly market structure 'ok' for a free market/ capitalist economy?
A group of 10 people have the following annual incomes: $55,000, $30,000, $15,000, $20,000, $35,000, $80,000, $40,000, $45,000, $30,000, $50,000. Calculate the share of total income received by each quintile of this income distribution.
When a Denver resident purchases a shirt imported from China, this represents a:
Between 2006 and the middle of 2008, oil prices rose sharply – from around $60 to more than $140 per barrel. By the end of 2008, however, oil prices had fallen even more sharply, to just over $40 per barrel. Consider these as two separate shocks. Als..
Suppose that an increase in consumer confidence raises consumer expectations of future incomes and thus amount y want to consume today this might be interpreted as an upward shift in production function how does this shift affect investment and r..
The total surplus (TS=PS+CS) under the old tax per unit was $2000. Next, government reduces the tax rate such that the total government revenue drops $200 below its previous value and DWL drops $100 below its previous value, what can be a possible ne..
Last year, Jarod left a job that pays $80,000 to run his own bike-repair shop. Jarod’s shop charges $65 for a repair, and last year the shop performed 5,000 repairs. Jarod’s production costs for the year included rent, wages, and equipment. Jarod spe..
Illustrate what is the total number of wells which maximizes the sum of the profits of both firms.
In a typical day the store sells some of each type of cola, which suggests that Major League Baseball has adopted FOA because it fears that regular binding arbitration is addictive.
At NYIT in 1993 a 100ton electric A/C system (electric driven compressor) with a 100ton natural gas absorption system. Electric then was $.12/kwh and the natural gas unit was expected to half the energy cost. Other date is listed below. Make a financ..
The state of Delaware issued and 8.75% bond with a face value of $1000 the bond sales for $1000 improvise 8.75% yield to maturity what-year-old on a corporate bond would result in both bonds providing the same after tax rate of return to an investor ..
if Bob bids $ 5, Alice bids $ 6 and Bob n passes, Alice gets $ 20 and pays $ 6 to auctioneer and Bob pays auctioneer $ 5. Both have $ 100 to bid. What is optimal strategy.
The U.S. economy has fallen into a recession. It is a severe and deep recession, and one that some economic analysts say may persist for at least another year.
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