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1) Tell how they combine to insure that in the long run a firm in a perfectly compitive industry make zero profit and is a price taker.2) suppose each frim in perfectly competitive broccli industry has a long run total cost curve given (1/150)Q^3-0.49Q^2 + 89)
a) without knowly the demand function can we say how much broccoli each firm produces in long run equilibrium? if so under which assumption. if not explain why?
b) if demand is given by Q= -400p + 16002, what is the long run equilibrium price, quantity in market? how many firm will there be?
Use a graphical illustration to describe briefly what the influence an increase in immigration on the market supply of labor
Calculate the change in deadweight loss if the U.S. replaces a prohibitive tariff per unit on imported wine by an equal production subsidy per unit of wine sold by U.S. producers.
Suppose that oil prices rise sharply for years as a result of a war in the Middle East. Illustrate with a diagram what happens to the: Demand for automobiles? Demand for home insulation? Demand for coal? Demand for tyres? Demand for bicycles?
What will the economic impacts of maintaining lower CO 2 emissions in the aggregate for the Turkish economy?
For the next 3 questions, assume that there is a $8 per unit excise tax levied on the consumers of the product. C) What price will buyers pay after the tax is imposed D) What is the deadweight loss created by the tax E) What is the quantity of the go..
What number of drivers appears to be most efficient in terms of output per driver and what number of drivers appears to minimize the marginal cost of transportation assuming that all drivers are paid the same salary?
Local steakhouses suffer from the popularity of sushi and start incurring losses. What will happen to the number of steakhouses in town in the long run? Explain your answer.
The specific structure of a U.S. corporation's charter and bylaws is constrained by:Corporate governance refers to aspects of the corporation such as ,If a firm purchases a part of its supplies on the open market this is called :
The aggregate demand curve slopes decrease, because when the price level is reduce, people can afford to purchase more, and aggregate demand increase.
How will an increase in ethanol production impact the supply and demand for corn, soy beans, and other alternative fuel resources What impact might this have on other goods and services dependent on these resources
The price elasticity of demand for health care is such that an increase in the price of health care will: decrease total health care expenditures. increase total health care expenditures. shift the demand for health care rightward. shift the deman..
5. you are at the company convention and your ceo gives a rousing motivational speech about how the company wants its
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