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Assume the cat food industry is perfectly competitve and is in long run equilibrium. suppose people start to take more cats than dogs as pets, what is the impact to the cat food industry and the individual firm in the short run and long run specifically and why?
q.when milton friedman and anna schwartz in a book titled a monetary history of the united states 1867-1960 uncovered
Consider a mutual fund with $720 million in assets at the start of the year and with 10 million shares outstanding.
As of 2006, the United States is running a large trade deficit--that is, imports exceed exports by a wide margin and the United States is consuming more than it is producing. The U.S.'s ability to consume more than it produces rests on foreigners' wi..
Suppose that a computer software company controls the operating system market. Although the government knows that the price is higher than it would be in the presence of competition, it believes that such profits are crucial to incentivizing innovati..
A friend of yours has just returned from desert island where she was stranded alone since January 2009. Having completed Econ. 104 just prior to arriving on the desert island (and being naturally curious), Is international trade more or less importan..
A consumer must divide $600 between the consumption of product X and product Y. The relevant market prices are Px = $10 and Py = $40. a. Write the equation for the consumer's budget line. b. Illustrate the consumer's opportunity set in a carefully la..
If you invest $300 in a stock, borrowing $240 of the $300 at 10 percent interest, and the stock price rises by 15 percent, what is the return on your investment?
Suppose that inverse demand is given by D(Q) = 56 − 2Q, Q = q1 + q2 and the cost function is TC(qi ) = 20qi + f Find the Stackelberg equilibrium and compare it to the Cournot equilibrium. 6. What is the SPNE for the entry game with the following timi..
For each of the following statements, answer “agree” or “disagree,” and provide justification. “Omitting a relevant variable from a regression model generally causes bias in the OLS estimators.”
Elucidate why the general level of wages is higher in the United States and other industrially advanced countries.
A wheat farmer and a firm in a perfectly competitive market are similar in that:
An increased supply of U.S. dollars on the foreign exchange market, all else equal, will result in an appreciation of the U.S. dollar. Although McDonalds operates in a market structure with many competitors and substitute foods, it often engages in _..
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