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What are the conditions for a perfectly competitive market? What are the conditions for a monopolistic market? What are the conditions for a monopolistic competitive market? What are the conditions for an oligopolistic market? How would you explain the differences among these market structures? Identify which market structure your organization competes in and why you think so.
Why might you expect individuals who were unemployed in their 20s to have lower wages at the age of 40 than individuals with identical educational backgrounds but who were not
A bond was purchased for $2100.Intrest of $110 was paid every 6 months. The bond was sold at the end of the third year for $2000.What is the annual effective rate of return ea
Suppose there is a broad increase in the price of stocks that causes an increase in the real wealth of individuals. Consumer spending rises in response to the increase in weal
Government says that firm X must pay $1000 in taxes simply because it is in business of producing a good. What cost curves if any does this tax affect and does MC change if
Explain why the demand for the good or service provided by the organization you work for is elastic or inelastic. How does this influence pricing decisions?
Of the four industry structures we discussed (monopoly, competition, oligopoly, monopolistic competition), very briefly what is the main advantage and disadvantage of each? Do
Suppose you are given the following Total Product Function: Q=100 K^3/2 L^4/2 M^4/7 ,where Q is total output or units produces; K, capital; L, labor; and M, materials.; that i
Discuss whether each statement is an example of positive economics or normative economics or if it contains elements of both: an increase in the personal income tax will slow
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