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1. The characteristic that distinguishes a perfectly competitive market from a monopolistically competitive market is
a. ease of entry.
b. large number of firms.
c. degree of government regulation.
d. product differentiation.
e. market share.
2. Which of the following statements concerning market structure is not true?
a. A market structure is a model.
b. Competition occurs only under the conditions of perfect competition and monopolistic competition.
c. Few industries fit neatly into one market structure or another.
d. When analyzing the behavior of firms, economists assume that a firm participates in one of the four market structures.
e. Conduct predicted by market-structure models provides insight into the real-life behavior of firms.
Suppose that there are 100 workers in the country (50 women and 50 men), they are each paid $10 an hour, and the tax rate is 25%. What tax revenue is collected? What is the deadweight loss associated with the 25% tax on labor incomes?
Recommend appropriate pricing and nonpricing strategies for your new or existing good or service based on the projected economy’s stage in the business cycle and the prevailing projected economic conditions for one or more macroeconomic factors. Expl..
Currently you can purchase a used 10 year old CAT 24D for $85,000. Ten years from now, you think that a comparable used machine will sell for $105,000. What is the average annual inflation rate on used equipment that you are expecting during this 10 ..
Differentiate the equilibria of model. Also the classification should be a function of the bliss point of the candidates.
Economic growth has slowed in the last quarter of the year to 0.6% from the previous third quarter growth rate of 4.9%. The economy lost 12,000 jobs in the last month of the previous year while shedding 80,000 jobs during the months of January and Fe..
Grocer orders 100 Grade A eggs from Farmer per month at market price for a period of three years. Farmer delivers Grade A eggs every month for one year, but Grocer began rejecting the eggs claiming that the market price for eggs was too high. Does th..
Which of the following statements about oligopolies is not correct? Which is true of an oligopoly market that reaches Nash equilibrium? Which of the following situations produces the largest profits for oligopolists?
A mutual stock fund has grown at a rate of 16% compounded annually since its beginning. if it is anticipated that it will continue to grow at this rate, how much must be invested every year so that $60,000 will be accumulated at the end of 12 years?
Karen runs a print shop that makes posters for large companies. It is a very competitive business. The market price is currently $1.00 per poster. What is her AFC per poster if she prints 10,000 posters? What is her ATC per poster if she prints 1,000..
q.the warren amp smith company manufacturers commercial zippers of two kinds kind x and kind y. its production
Suppose that the price of IPATH increases by 5%,at the same time the price of laptops falls by 3% and income elasticity increases by 2%.
Calculate the elasticity for each variable at that point and briefly comment on what information this gives you for each variable.
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