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1. What are the optimal penal codes if there are two firms, competition is Bertrand, marginal costs are equal, and capacity is unlimited?
2. Explain why a firm might prefer a meet-or-release MCC to a no-release MCC.
3. Why might it be sensible not to have an effects test in determining whether an agreement between firms should be illegal? How does the presence of an effects test, as in Canada, affect the evidence requirements for a price-fixing conviction?
What is "monopolistic" about monopolistic competition? What is "competitive" about a monopolistically competitive market? Please explain.
find the new equilibrium GDP when I increases to 350 and all other values remain the same.
A firm can determine how many resource units to acquire by comparing Marginal Revenue Product and Marginal Factor Cost, then continuing to acquire another unit so long as its MRP exceeds, or at least is no worse than, its MFC.
Define cost when used in cost analysis. Make sure you discuss the concept of opportunity cost.
At the prompting of the United States, Japan relaxed the restrictions and allowed the companies to invest anywhere in the world. Illustrate what effect do you think this had on the yen/dollar exchange rate and the trade balance between the two cou..
Stagflation is caused by
What can be accomplished about the impact of transportation costs on the price of the traded product in each trading nation.
Find out the equilibrium price and quantity that will prevail in the market. At a price of $10, would there be a surplus or shortage.
Assume the demand for plastic surgery is price inelastic. Are the following statements true of false? Explain. When the price of plastic surgery increases, the number of operations decreases.The percentage change in the price of plastic surgery is le..
Illustrate what is the quantity of economic investment that has resulted from BBQ's actions
In a large city, a good, real-world example for perfect competition would be. A firm under monopolistic competition will earn
A family that won a $100,000 prize on America’s Funniest Home Videos decided to put one-half of the money in a college fun for their child who was responsible for the prize. If the fund earned interest at 6% per year, how much was in the account 14 y..
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