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Consider an industry in which firms can expect to sell 1,000 units annually at a market price of P. Before firms enter, they do not know their production costs with certainty. Instead, they believe that unit costs can be $2, $4, $6, or $8 with equal probability.
Annualized sunk production costs are 1,500 - firms cannot recover this expense should they choose to exit. What is the equilibrium price at which firms are indifferent about entering?
What is the average profit of firms that are producing? (Hint:Firms will produce as long as the price equals or exceeds unit production costs.)
the irony is that those who are aware of the pareto principle do not use it as often as they should in making
Suppose Humphrey starts out with four pounds of food and seven gallons of water, while Lauren starts out with eight pounds of food and five gallons of water. Draw an Edge worth box that shows all possible allocations of these goods, and plot the endo..
company a is a producer of widgets in a monopolistically competitive market structure. it is projected that as more
Presume you originally invested in a firm when it was small and unprofitable. Now the firm has grown to be large and profitable. Would you be better off now if you had bought the firm's stock or the firm's bonds?
An economy is facing the inflationary gap shown in the accompanying diagram. To eliminate the gap, should the central bank use expansionary or contractionary monetary policy? How will the interest rate, investment spending, consumer spending, real..
Monthly deposits are made into an account paying 6% nominal interest compounded monthly. If the objective of these deposits is to accumulate $100,000 by the end of the 5th yr, what is the amount of each deposit?
Compare and contrast pure discount bonds with coupon bonds and provide at least one example of such government or corporate bonds that can be bought and sold by investors. Describe the way interest rates are determined for these bonds by using the ap..
Assume that the unemployment profits provided through the private sector are raised permanently,
1. consider a country in which there are 2 sectors called sector 1 and sector 2. the production functions and the
There are two types of used cars on the market: Lemons and Cherries. Lemons are worth $2000 to sellers and $3000 to buyers. Cherries are worth $4000 to sellers and $6000 to buyers. There are 70 Lemons and 30 Cherries available for sale, and buyers ar..
country a and country b produce fruit and timber. each country has a labor force of 1200. country a can produce 10
What are the assumptions we need to have for our Utility Maximization model (Consumer theory)? And discuss when each assumption does not hold, how can it make the whole model collapse?
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