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Industry studies often suggest that firms may have long - run average cost curves that show some output range over which there are economics of scale and wide range of output over which long- run average cost is constant; finally, at very high output, there are diseconomies of scale.A. Draw a representative long-run average cost curve, and indicate the minimum efficient scale.B. Would you expect that firms in an industry like this would all produce about the same level of output? Why?
What is the maximum quantity of quarks it can produce and what is the opportunity cost of producing the first 600 quarks?
People are more likely to clean up waste in their homes than at a community park because people expect the community park to be dirty.
Give a specific example for each ( US Companies ). Which one is better market from the stand point of producers? Which one is better market on the stand point of consumers?
Analyze how production and cost functions in the short run and long run affect the strategy of individual firms.
An article in BusinessWeek warned of the dangers of deflation as the collapse of numerous Asian economies was creating worries that Asia might try to "export its way out of trouble" by oversupplying everything from automobiles to semiconductors.
A firm faces a perfectly elastic demand for its output at a price of $6 per unit of output and each hour of labor produces five units of output. For L number of workers hired each hour and w hourly wage rate, the firm faces an upward- sloped labor..
Calculate the unemployment and labour force participation rates in 2014 and in 2015 and what challenges would face the Greek government if they wanted to undertake fiscal policy to address the problems described in b?
Identify what problem this economy is facing and describe two specific policies the Federal Government might follow assuming the MPC in this economy is 0.67. Provide specific numbers when describing the outcomes of the two different policies and e..
If interest rates or opportunity costs investment, happened to be the same in both developed countries and emerging economy nations, what could account for faster upward shifts in the latter group's planned investment functions Are stocks of produ..
FULL karma for complete and clear response. 1. Under what conditions are the Cournot and Bertrand equilibria the same 2. What happens to price and output in the Cournot, Bertrand and Stackelberg models if marginal costs increase by 10 percent
Does Budweiser have a dominant strategy and what is the equilibrium for this advertising strategy game? That is, in which cell will the firms end up?
Now suppose that a scientific study find that tap water is toxic, and everyone should drink only bottled water. Illustrate the impact of this study on the market and each firm. Use graphs to illustrate your answer.
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