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Assignment
Late in the day on August 7,2006 numerous U.S. airlines cut their fares on leisure travelers. These included American Airlines, Delta, Continental, and Southwest. This fare cut, which was approximately 4 to 8 percent, occurred during a period of rising fuel costs and a record number of seats being filled. If costs are up and demand is strong, why did these airlines reduce their pies on this class of passengers? The explanation is that they were following the lead of UNITED. United airlines is the implicit price leader in this industry and many other carriers watch closely what the leader does and base their decisions on the leader's actions. Such behavior is not uncommon in an industry dominated by a few large firms.
What market structure does the airline industry most likely resemble and why?
You are the manager of a monopoly, and your demand and cost functions are given by P = 300 - 3Q and C(Q) = 1,500 + 2Q2, respectively. a. What price-quantity combination maximizes your firm's profits? b. Calculate the maximum profits. c. Is demand e..
What accounts for whether case a or case b occurs? d. Suppose that a scalper had secretly learned before the announcement that Aaron Han would not play in the next game. What actions do you think he would take?
How do you define one person that has a comparative advantage over another if his or her opportunity cost of performing a task is lower than the other person's opportunity cost?
a) What are the social benefits of curbing/abatement of pollution? b) What are the social cost of curbing/abatement of pollution (yes, there are some)?
Though most of the economist resist government borrowing on the premises that it pose a serious future burden to the taxpayers, its is also believed that in certain conditions government borrowing is acceptable. Analyze this conditions.
What are some examples of irreversible investments? I know they're investments that have high value only under specific conditions and can't be easily moved, adjusted, or reversed if conditions change, but I don't know what are real-life examples.
Calculate the equilibrium level of income or real GDP for this economy. What happens to equilibrium Y if Ig changes to 15? What does this outcome reveal about the size of the multiplier?
Alice has a high regard for privacy and wants the system to have employeesregister and give permission to obtain financial amounts from the dental insurance and retirementcompanies. Draw a use case diagram, context-level data flow diagram represen..
As we know that there are some people who cannot have children who want to adopt, and there are pregnant women who for various reasons want to put their babies up for adoption
Everybody in the park has a reservation price of $1 for a hot dog, where the cost of a hot dog includes the subjective cost of walking as well as the money price they have to pay when they get there. (Nobody has ever thought of fetching a hot dog ..
Explain in briefly about two paragraphs the supply and demand analysis and the impact of government regulations at McDonalds.
suppose that a natural monopolist was required by law to charge average total cost. on a diagram label the price charged and the deadweight loss to society relative to marginal cost pricing. Hint: ensure you consider the characteristics of natural ..
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