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Suppose two firms sell an homogeneous product; they compete in prices. Their respective marginal costs are MC1(q) = 10 and MC2(q) = 20. Find the prices that form equilibrium (for simplicity and reality, assume that prices are quoted in units no smaller than cents). Derive the best response functions and plot them carefully.
The producer in the perfectly competitive market above will pick a level of production such that:
If the firm's price elasticity of demand is equal to -2 (or 2 in absolute terms) illustrate what price should the firm charge in order to maximize profits
Compute how many acres, hectares each person wold occupy if all U.S. residents.
All costs of exhibiting movies are fixed except for the $3.50 royalty payment you must make to the film distributor for each ticket sold.
The market demand is P=100-1.5Q and marginal & average costs are constant at 10 (MC=AC=10) find the monopoly price and quantity. Find the perfect competition price and quantity. Calculate profit, social welfare (consumer and producer surpluses), and ..
q1. a corporation has 7 million in equity. during the tax year it takes in 4 million in receipts and earns 2 million in
How might managers interpret the potential for their product in a market that is, in absolute economic terms, large but, on a per capita basis, characterized by a majority of poor consumers? In the event that the BRICs fail to meet projected performa..
Illustrate what would be natural rate of unemployment if a baby boom led to a year in which teenagers made up 20% of labour force.
Why might we imagine that this factor will continue to achieve the same effect in the future? iii. Indicate what factors might push in the opposite direction.
A company is trying to predict the long-run market share of a new men's deodorant. Based on initial marketing studies, they believe that 35% of new purchasers in the market will ultimately try this brand. Calculate the long-run market share that the ..
Illustrate the marginal revenue curve that corresponds to positive marginal revenue. Line segments will automatically connect the points.
A major employer in a small town announces upcoming major layoffs of employees. What should we expect to happen to the consumption functions of the affected employees.
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