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The inverse demand that duopoly quantity-setting firms faces is p = 90 - 2q1 - 2q2. Firm #1 has no marginal cost of production, while firm #2 has a marginal cost of $30. How much does each firm produce if they move simultaneously? What is the equilibrium price?
Define absolute and comparative advantage in your own words. Elucidate how absolute and comparative advantages were used in your simulation.
Explain how does the price elasticity of demand for corn oil influence the quantity-demanded of corn oil and the Total Revenue earned by sellers of corn oil.
Explain how much is saved at equilibrium. If savings fell by $200 at every level of GDP, illustrate what would be equilibrium level of income.
Illustrate what are the key determinants of Spectrum Healthcare Resources fixed cost and variable cost in short-run.
Provide the information, is it surprising that the company's revenueincreased when it decreased the average selling price of its phones.
A December 2007 issue of The Economist contained the following quote in an article about Germany: "The government has just chopped the payroll tax that finances unemployment insurance, which should encourage employment." Comment on this statement,..
Utilize these values at this point on demand to make the subsequent computations.
A monopolist faces demand given through: P=100-4Q and has marginal costs given through: MC=10+2Q Create the demand, marginal revenue and marginal cost curves. Compute and demonstrate how much this firm will sell and what it will charge.
Illustrate what were Enron's problems from an organizational architecture point of view.
Help wanted advertising is higher than usual also the consumer price index is up more than expected.Inflation has slowed markedly also the Dow Jones average is at record levels.
Assume that there are 10 million workers in Canada also that each of these workers can manufacture
Elucidate how do you find the angle of the ray the isoquants are on. One more unit of capital does the firm no good. Draw the isoquants for this production function.
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