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One of the functions of price is to ration resources and goods and services. What do we mean when we say price serves as a rationing device? Elaborate your response in relation to scarcity and in terms of the demand and supply model
Firm A currently monopolizes its market and earns profits of $10M.Firm B is a potential entrant that is thinking about entering the market.If B does not enter the market,
What is the monthly payment if you ?nance the car over 4 years at the following interest rates: 0%, 4%, and 8%?
Find the marginal rate of substitution for both individuals and is the initial allocation pareto efficient
Last-mile providers often advertise very fast speeds, but users rarely see speeds as high as advertised rates. Search online to find a network speed test and try it from your home, office, mobile device, or dorm. How fast is the network If you're ..
Why might some people claim that the breakfast cereal industry is monopolistically competitive but that the automobile industry is an oligopoly? In both cases, about eight to ten firms dominate the industry.
The presumption of efficiency for capitalism is based on the model of perfect competition. Explain the assumptions underlying the model of perfect competition. Provide an example showing how the US economy diverges from each of these assumptions.
The costs of a purely competitive firm and a monopoly could be different because the competitive firm has a lower price. the monopoly might experience economies of scale not available to the competitive firm. the competitive firm is unregulated.
Suppose your college charges you separately for tuition and for room and board. then what is a cost of attending college that is not an opportunity cost.
Assume $92,500 is an accurate estimate of the annual savings that will result from this investment, but it is not clear how long the machine will be used. Assuming that the salvage value decrease linearly from $500,000 to $50,000 over a 10-year in..
Suppose a firm has the following demand equation, Assume the company decreased the price to $2.50. Would this be beneficial? Explain. Illustrate your answer with the use of a demand schedule.
Three months ago you purchased, at par, a $100,000 bond with a stated interest rate of 5%. Today, the Federal Reserve announced that it is reducing the discount rate by 0.5%.
Consider the market for tuna, which is a price-taker market. The long-run equilibrium price is $3 per can of tuna, and the long run equilibrium quantity is 600 million cans per year. suppose the surgeon general issues a report saying that eating t..
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