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Suppose the firms in a monopolistically competitive market are earning positive economic profits. What will happen to move the market to its long-run equilibrium?
The firms' demand curves will become less elastic.
The demand curves faced by firms in the market will shift to the right.
More close substitutes will appear in the market.
Some firms will exit the market if they can't cover all of their fixed and variable costs.
ABC Company acquired some land (independently appraised at $12,000) and paid for it by issuing 1,000 shares of its common stock (par $10 per share; no market price was quoted). How should this transaction be reported on the Statement of Cash Flows (S..
Each firm has the usual U-shaped average-total-cost curve. The market is in long-run competitive equilibrium.
Suppose you have been assigned to complete a group project with one of your classmates. Each of you can choose to Shirk or Work. If one or more of you chooses to Work, the project is completed and provides each with extra credit valued at 4 payoff un..
What is strategic planning and why it is crucial to an organization’s survival? In your response, and how strategic planning differs from strategic management?
A large electronics company is organized into mainly profit-center divisions. The components division and the consumer electronics division are profit-center divisions of the company. The components division produces individual chips and other electr..
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A local newspaper headline blared: "Bo Smith signed for m.u.30 Million." A reading of the article revealed that on April 1, 2000, Bo Smith, the former record-breaking running back from Football University, signed a m.u.30 million package with the Da..
Discuss the following excerpt from a recent story in the Wall Street Journal. In your discussion demonstrate that you can use the concepts of: "price discrimination and "barriers to entry" to explain:
Describe the social and economic repercussion of the following inventions: the typewriter, the jet airplane, television, penicillin. Which do you think is greater in each case - the social or the economic impact?
Illustrate when a cold snap hits florida, the proce of orange juice rises in supermarkets throughout the country
q1. suppose that on january 1 the price of one hundred yen was 0.80 and ppp held. over the year the japanese inflation
Suppose the market for wine in the U.S. is characterized by: Calculate the deadweight loss if the U.S. imposes a prohibitive tariff per unit of imported wine.
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