Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
1. (Zero Economic Profit in the Long Run) In the long run, a monopolistically competitive firm earns zero economic profit, which is exactly what would occur if the industry were perfectly competitive. Assuming that the cost curves for each firm are the same whether the industry is perfectly or monopolistically competitive, answer the following questions.
a. Why don't perfectly and monopolistically competitive industries produce the same equilibrium quantity in the long run?
b. Why is a monopolistically competitive industry said to be economically inefficient?
c. What benefits might cause us to prefer the monopolistically competitive result to the perfectly competitive result?
As an analyst for the Latin American Development Bank, you calculate that the share of income going to capital in both Columbia and Costa Rica is 10%. As a result you know that the per worker production function is:y=A*k0.10 You also know that the ca..
Political Economy GV307 : Consider the model of “no theft” where the consumer pays the official government price plus a bribe in order to obtain X. Assume that the official marginal revenue for selling the good in this context is given.
If the interest group theory applies to hospitals, explain why does not it also apply to nursing homes? Would a doctor owned, for profit hospital be as attractive to physicians as a nonprofit hospital?
If the price ceiling were removed, what would happen to the price of gasoline in the near term Is it fair that the available gasoline would only go to those people who are willing and able to pay the higher price
Explain why the short-run aggregate supply curve is not vertical, but the long-run aggregate supply curve is vertical.
If not, what linear functions of these parameters, the estimable func- tions, can you estimate? Show the necessary calculations.
1. use the following information to list the total fixed costs total variable costs average fixed costs total variable
What is the relationship between productivity and the cost of production, and how does the cost of production vary over the short- and long-run?
Describe several different fixed costs and variable costs associated with operating an automobile - How is the restaurant able to differentiate between the short run and long run
johns lawn mowing service is a small business that acts as a price taker. suppose the market demand curve for mowing
The days of the $3 coffee may be numbered as caf owners come under pressure to pass rising costs on to legions of coffee drinkers. In addition to increases in rents, transport costs and milk prices, cafes were within weeks of being hit with higher pr..
a profit maximizing monopolist is earning a postive economic profit. if workers wages rise what happens to price and
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd