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Question: How would an improvement in technology, like the high-efficiency gas turbines or Pirelli tire plant, affect the long-run average cost curve of a firm? Can you draw the old curve and the new one on the same axes? How might such an improvement affect other firms in the industry?
Question # 1Consider a two-period mine (periods 0 and 1) industry that is owned by a monopoly firm. Let interest rates, demand, extraction costs, and initial stock be give by: r = 5%, P(Qt) = 100 Qt/2, MC = $50/barrel, S0 = 150 barrel. (4+5+6 points)..
What is the average spell of employment, what is the average spell of unemployment and how many unemployed persons ?nd jobs - What is the reserve ratio at the bank?
How would a decrease in the reserve requirement effect the (a) size of the money multiplier (b) amount of excess reserves in the banking system and (c) extent to which the system could expand the money supply through the creations of checkable dep..
Which of the governance indicators have improved over 2002-2011?
The problem belongs to Economics, particularly Micro-economics and it explain about the Harvard Case Study No. 9-580-104 Cumberland Metal Industries: Engineered Products Division, 1980 by Benson P. Shapiro and Jeffery J. Sherman.
Calculate the accounting profit or loss as well as the economic profit or loss in each of the following situations:
Given the Production Function: Q = 21X + 9X2 - X3, where Q = Output, and X = Input . At what value of X does Stage II of the production function begin?
Draw the demand curve for x with Px on the vertical axis and x on the horizontal axis.
What happens to total revenue if the price falls from $400 to $350 a chip and from $350 to $300 a chip?
Larry, Curly, Moe run the only saloon in town. Larry wants to sell as many drinks as possible. Moe wants to make the largest possible profits. Using a single diagram of the saloon's demand curve and its cost curves, show the price and.
Suppose Jonah and Carlos have a contract, which Carlos chooses to breach. Jonah sues, and a court orders Carlos to pay him the amount he expected to gain at the time they made the contract, net of any amount he actually did receive after the breac..
Consider now that the entrant, if fought, has the possibility of withdrawin from the industry (at a loss of 1 for the entrant and a gain of 8 for the incumbent), or staying (at a loss of 5 for each player).
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