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Suppose a monopolist operated in an industry where the market demand is perfectly elastic (with inverse demand given by P = 30 and its cost function is T C = 100 + Q + Q^2 . calculate profit maximising P and Q. Would this be any different if the industry is competitive? [3 marks]}
The goal of all capitalists is to dismiss the competition and gain market power. a) Explain why that might be hurtful for the economy, though not for everybody, clearly stating who wins and who loses in the presence of monopolies.
Create and explain a production possibilities frontier for an economy that produces milk and cookies. Determine what happens to this frontier if disease kills half of the economy's cow population?
the law of comparative advantage forms the basis of international trade.explain the above statement with reference to
The Impacts Of The Ebola Outbreak On The Global Travel Industry - Important aspect of business communication is the elimination of the extraneous. Supporting exhibits are not counted in the page total.
how to Write an analysis of an organization researched to examine the specific dynamics within the organization. (The organization must be approved by the instructor.) The analysis may address one or more of the following components.
a perfectly competitive firm and industry in long-run equilibrium. A. How do you know that the industry is in long run equilibrium B. Suppose that there is an increase in demand for this product. Show and explain the short-run adjustment process fo..
Which of the following is the primary disadvantage of producing inputs within a firm?
A doctor earns $250,000 per year, while a professor earns $40,000. They play tennis against each other each Saturday morning, each giving up a morning of relaxing, reading the paper, and playing with their children. They could each decide to work ..
You are the manager of a monopoly and your demand and cost functions are given by P=300-3Q, C(Q)=1,500+2Q^2, respectively. What is the profit-maximizing price and output?
What is your assessment of business's response to product and service quality and safety? Have they done enough? What is missing from their approaches?
For example the Mexico's oportunidades program where large cash transfers were given to poor mothers conditional on preventive health care and child school enrollment. What is it at play here - behavioural economics or neoclassical
What was behind Apple's decision? Do you agree with it - despite the fact that only a small portion of the cost of an iPhone was labor expense.
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