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Assess the degree of difficulty associated with measuring marginal revenue product for each of the following occupations. Provide a brief explanation in each case. You may want to review the definition for marginal revenue product before preparing your answers.
Application of Nash Equilibrium and Game Theory with examples
Explain how advertising can be employed to allow Tots-R-Us to keep price average above cost without encouraging entry.
Price Discrimination: Assume that United Airlines knows that it faces the following demand equations and corresponding marginal revenue equations for its (one-way) SFO to Las Vegas route
Explain the concept of externality. What does it have to do with the efficient allocation of resources?
Explain why a monopolist will never set a price (and produce the corresponding output) at which the demand is price-inelastic.
How income may change savings behavior
Fill in the table indicating whether the new Each row and column heading describes a shock to a market initially in equilibrium. Fill in the table indicating whether the new equilibrium price and quantity will increase, decrease, or not change.
If the price of manufactured goods rises to $6 bushel (a rise of 50%), the parity price of corn as well rises by 50% - to $4.50 in this hypothetical example.
Macroeconomics questions, discuss the short-run and long-run effects, Keynesian model, Distinguish between ongoing demand pull and ongoing cost push inflation.
Problem based on Utility Function - Problem, Answer and explain the following using a diagram which is completely labeled.
Identify trends or other patterns in inflation within the an economy of your choice over the last five years using quarterly data from the Central Bank or other Government based Statistical agency websites as a source.
Agree or disagree and describe: In monopolistically competitive market, firms that innovate successfully can increase their economic profits and lock in higher market shares over long run.
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