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In the short run, competition sometimes leads to inefficiency in the operation of our economic system. Many people argue for monopoly in order to eliminate ties inefficiency. Discuss this solution.
Compute the best response function of each firm in terms of prices. Compute the resulting equilibrium price quantity combination for each firm. Describe your answer with a suitable graph. Also calculate optimal profits of each firm.
The demand for the firms services has been increasing as more consumers use the service for convenience and due to higher parking rates and gasoline prices, wage rates for drivers increase cost for the firm. Describe the supply and demand shifts t..
Consumers make decisions based on:
Interested in looking at the relationship between the number of people on the sales force and the dollar volume of sales.The following data
q1. how many hours will a person allocate to leisure activities if her indifference curves between consumption and
Identify each as being consistent with risk averse, risk neutral or risk seeking behavior in investment project selection. Explain.
Operating Cash Flows. Laurel's Lawn Care, Ltd., has a new mower line that can generate revenues of $120,000 per year. Direct production costs are $40,000 and the fixed costs of maintaining the lawn mower factory are $15,000 a year.
George has been selling 5,000 T-Shirts per month for $8.50. When he increased the price to $9.00 he sold only 4,000 T-Shirts. What is the demand elasticity? If his marginal cost is $4 per shirt, what is his desired markup and what is his initial a..
In 1998, Mark McGwire hit 70 home runs while playing for the St. Louis Cardinals. In 1999, McGwire hit 65 home runs. This decrease in marginal(home runs per season) product led to an associated decreas
Analyze the proposals for reform in the current K-12 system and determine which single proposal would be the most likely to succeed. Explain your rationale. evaluate the effectiveness of No Child Left Behind.
What are its limitations as an economic measurement? How is the Human Development Index (HDI) a better barometer of economic well-being? What are its advantages and disadvantages?
The daily load factor of a given entity is defined as the total daily energy served to that entity divided by theproduct (peak demand)*(duration of the time interval). For a daily load factor, the duration of the time interval is 24.
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