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Assume than an oligopolistic is charging $21 per unit of output and selling 31 units each day. Also suppose that previously it had lowered its price from $21 to $19, rivals matched the price cut, and the firm’s sales increased from 31 to 32 units. It also previously raised its price from $21 to $23, rivals ignored the price hike, and the firm’s daily total revenue came in at $482.
suppose the market for a certain pharmaceutical drug consists of domestic united states consumers and foreign
Quotas imposed on Japanese imports into the United States tend to: penalize both U.S. consumers and Japanese consumers. benefit both U.S. consumers and Japanese consumers.
i. the quantity demanded of lobsters is 012345 and 6. the derived total utility is respectively 0 15 23 25 25 22 and
Calculate the profit each firm earns in equilibrium.You are a manager for Herman Miller—a major manufacturer of office furniture. You recently hired an economist to work with engineering and operations experts
What is the total fixed cost for the El Dorado Star? If the total fixed cost increases to $5,000, how many papers should be sold daily for profit maximization?
Elements of fiscal policy that tend to have to move the budget toward surplus as the economy expands and toward deficit as it contracts are called?
define cognitive dissonance and provide an example. how might cognitive dissonance impact a future home purchase? car
suppose the poorest 90 percent of citizens actually have an income of $15,000 because each receives $5,000 of unreported income from the underground economy. what is the Gini coefficient now?
explain the difference between absolute advantage and comparative advantage. which is more important in determining
Assume the military bureaucracy consistently misinforms Congress on total costs of producing military hardware. Suppose that it underestimates the actual costs and that the political representatives believe these estimates.
Country B Apples=36 Bananas=15 1. Calculate the pretrade relative price of Apples in terms of Bananas. Relative price of Bananas 2. Which country has a compartive advantage in Apples ANd in Bananas
Use these data and a log-linear demand specification to obtain least squares estimates of the demand for broiled chicken.
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