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a) Compare the initial sum of profits of the two individual firms, p1 + p2, with the profits of the merged firm, pA. Explain and comment.
b) If the merged firm were able to exploit economies of scale it would affect costs, may be even marginal costs. Assume the marginal cost of the merged firm was not 40, but 30. Is the merger profitable in this case?
c) Can you say something about how low the merged firm's MC need to be for the merger to become profitable?
d) Relate this to a real-world merger. Are they usually profitable? Give examples
Last week a there was a general strike of labour union demanding increase in their salaries.You are requested to investigate from a sociological point of view
Explain, using diagrams, why a monopoly can potentially earn super-normal profit in both the short run and the long run, while perfectly competitive firms can only earn normal profit in the long run.
For each of points 'a', 'b', 'd' and 'e' on the graph, calculate the price elasticity of demand (PED) and state the nature of elasticity (e.g. perfectly inelastic) at that point.
The City Symphony presents three open-air concerts in the city park pavilion during the spring and summer. Many who attend make donations for symphony expenses, but the donation is not required. Some who attend make no contributions.
Find Louis' optimal consumption bundle of orange juice and pineapple juice each week. Suppose the price of pineapple juice rises to $2 a cup while the price of orange juice remains constant. How much additional income would Louis need to afford hi..
An increase in the excise tax on alcohol? a)will have no effect on alcohol consumption b)will generate minimal tax revenues for the federal government c)couped with a uniform drinking age nationwide would save lives
An economy is operating with output $400 billion below its natural rate, and fiscal policy-makers want to close this recessionary gap. The central bank agrees to adjust the money supply to hold the interest rate constant, so there is no crowding o..
Calculate the six firm concentration ratio and Herfindahl-Hirschman index for this industry. What does each of these measures have to say about the degree of concentration in the industry
Do you think that NAFTA has forced the US economy to reallocate its resources to more capital intensive goods? If so, what would be the long term impact on economic growth?
Explain how either the Newhouse model or the Physician Workshop model could explain why hospitals might inefficiently over-invest in expensive, new technologies. What drives excessive technology investments in each model
a. Given the following chart and information fill in the missing values. Please write on a separate sheet. Note that r = $50 and w = $100. Use a price of $5.50.
Calculate the implied arc income elasticity of demand. I =? Given a price elasticity coefficient of -2.5, to what level would price have to be lowered to maintain there sales at a level of 28 million square yards. New Price =?
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