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For each of the following indicate what market structure best represents the good or service and briefly outline 2 characteristics of each market structure. a. Pepsi b. Your local pizzeria c. Annie's Avocados d. Waste Management (garbage pick-up)
For the purpose of these exercises, let the firm's profits be given by P(x) = 20x - x^2, and let damages be given by D(x) = 2x^2. Producer surplus, which equals profits, plus the net effects of any taxes, subsidies, or side-payments agreed to under t..
Think about all the economic data that are reported in the news every day. The information from all of them may be relevant, but does a policymaker really need to know any more about the state of the economy than the level of output and the inflation..
Amazon has entered international markets with sites in a number of other countries. The company believes that an aggressive international strategy is essential to its continued growth. Has Barnes & Noble take the same approach? What are some noticeab..
Suppose the market for oranges initially has supply described by P=10+Q (with price measured in dollars per bag and quantity measured in millions of bags) and demand described by P=20 - Q. Suppose a snow storm causes the supply curve to shift to the ..
President Obama proposes a higher tax rate on wealthy people. Their income tax may increase from 35% to a level close to or exceed 40%. What is the effect of this income tax rate increase on interest rates in the municipal bond market relative to tho..
Consider a neighborhood with 1000 residents. Each individual must choose (let’s assume simultaneously) whether to be a criminal or not. If an individual chooses to attempt a criminal act, their payoff is 200 if they succeed, but -300 if they are caug..
What were the issues, concerns and problems of the independent states. How did they differ from those faced by the National Government?
Provide some examples of discrete and continuous variables. What attributes of these variables make them discrete and continuous? Why?
Republicans running for national office often run on a platform of lowering the income tax rate. They argue an income tax reduction is needed to spur employment and economic growth.
Suppose the market equilibrium price for immunizations is $40 and the volume is 25,000. What sort of shift in supply or demand would reduce both prices and sales volume? What might cause such a shift?
Determine the Stackelberg equilibrium with 1 leader firm and n follower firms if the market demand curve is linear and each firm faces a constant marginal cost, m, and no fixed cost.
To save on gasoline expenses, Edith and Mathew agreed to carpool together for traveling to and from work. Edith preferred to travel on I-20 highway as it was usually the fastest, taking 25 minutes in the absence of traffic delays. Mathew pointed out ..
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