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Two firms compete in an undifferentiated Bertrand market. Suppose that the firms face a demand curve given by P = 60 - Q and both firms have constant marginal cost of 40 (MC=40). (a) What is the market clearing Bertrand price and quantity? (b) Suppose the two firms merge and regulators want to make sure that consumers are not hurt by the merger. How much would marginal cost have to fall in order for consumer surplus to be identical before and after the merger? (c) Instead, suppose the regulator cares about total welfare. Explain whether the marginal cost that would leave welfare unchanged would be higher, lower or the same as the marginal cost you calculated in part (b). (Note: you do not have to calculate the exact marginal cost to answer this question)
Suppose that Auburn begins a new living wage that paid all retail workers in the city $18 per hour, while the going wage in neighboring Roseville for retail workers was $8 per hour . If the odds of getting a job as a retail worker in Auburn are 40..
What is the slope of the line described by this equation: P = 3Q + 1/2? P is plotted on the vertical axis, and Q is plotted on the horizontal axis.
President North West is spending billions of dollars on military equipment in the U.S. He is also attempting to carry out his promise to put a man on Mars by the end of the decade.
Using the production function shown above, compute real GDP for each case and capital is constant but labour is increasing. What property of the production function is displayed? Explain.
Assume you are an aid to a government official planning on some recently proposed excise tax on welfare of her constituents.
Use the national income identity GDP= C + I + G + X to explain what a current account deficit(negative net exports) means in terms of domestic spending, production, and borrowing
using the regression results and the other computations from assignment 1 determine the market structure in which the
you have just inherited 100000 from your rich uncle sam. being the conservative sort you rush to your local bank and
access articles about the history business approaches management and marketing of eastman kodak and fujifilm. eastman
Assume Zack values his time at $0.25 per minute. He can purchase an MBTA report each morning that tells what the actual travel time will be for both the bus and the subway. How much is he willing to pay for this information?
What two methods can a less developed country use to finance its economic development. internal financing & debt rescheduling or else.
write a three to four 3-4 page paper in which you 1. discuss the current economic situation in the u.s. as compared to
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