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A firm in a purely competitive industry has a typical cost structure. The normal rate of profit in the economy is 5 percent. This firm is earning $15 on every $150 invested by its founders. Instructions: Enter your answers as whole numbers. a. What is its percentage rate of return? percent. b. Is the firm earning an economic profit? . If so, how large? Percent. c. Will this industry see entry or exit? . d. What will be the rate of return earned by firms in this industry once the industry reaches long-run equilibrium? percent.
Consider the intertemporal production economy with money of Chapter 12( WIllamson). the government decides that the use of credit cards is bad, and introduces a tax on credit card balances. at is, if a consumer or firm holds a credit card balance of ..
The rapid globalization of capital markets enables persons also institutions based in one nation to invest in corporations based elsewhere with relative ease.
Consider a homogenous good market with the following market demand curve: Two firms produce output at constant marginal cost = 10. Derive the Nash equilibrium outcome in terms of prices, outputs and the profits of the two firms under the following al..
On Friday nights, patients arrive at the emergency room at Mercy Hospital following a Poisson distribution at an average rate of seven per hour. Assume that an emergency-room physician can treat an average of three patients per hour and that the trea..
What happens to Bond prices, quantities and interest rates if (Make sure to include the supply and demand graph for bonds for each question :
An individual is considering the purchase of a used automobile. The total price is $6200 with $1240 as a down payment and the balance paid in 48 equal monthly payments with interest at 1% per month. The payments are due at the end of each month. Comp..
Fixed costs of production in the short run: Marginal cost can be defined as the: Which of the following is true under conditions of pure competition?
To what degree does real GDP measure to health of an economy? How is it possible to make valid international comparisons of real GDP? Support your answer with examples.
An example of a leakage in the circular flow model is. An example of an injection in the circular flow model is. Unemployment that is a result of a wage above the equilibrium wage rate is
A firm's production function is q = K^2L where q is the quantity produced, K is the amount of capital used, and L is the amount of labor used. w is the wage rate of labor and r is the rental rate of capital.
In the ________, if profits are not possible, the perfectly competitive firm will seek out the quantity of output where ________.
Me Lisa purchases shares in government bond mutual fund .is this included in the aggregate demand component investment.
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