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Q1. Assume the market shares of the six largest firms in an industry are 12 percent each. Calculate the six-firm concentration ratio and Herfindahl-Hirschman index for this industry. What does each of these measures have to say about the degree of concentration in the industry? Explain.
Q2. Assume good X is produced in a monopolistically competitive market. In addition, each of the firms in the industry uses essentially the same technology. Competitors distinguish their individual products primarily through persuasive advertising. Assume that one of the firms in the market discovers a new production process that substantially reduces the average costs of production. Analyze the effects of this discovery o n long-run equilibrium in the market. Use a graph to show your answer.
Making dresses is a labor intensive process. Indeed, production function of a dressmaking company is well described through the equation Q=L-L^2/800,
List three characteristics of an economists, a scientist and thee characteristics of an economist as a policy adviser.
How would you estimate the additional dollar cost of each additional salesperson? Based on your company's past sales experience
The Rainbow Paint Company uses a process costing system. Materials are added at the starting of process and conversion costs are incurred uniformly.
Based on predatory pricing theory, the predatory company sets price below marginal cost, the relevant cost of production. Competitors must then lower their prices below marginal cost,
Use the concepts of economies and diseconomies of scale to describe the shape the companies long run ATC curve. Determine the concept of minimum efficient scale?
From the E-Activity, if you were a manager in a tobacco company, analyze the elasticity of demand for tobacco products. Evaluate the factors involved in making decisions about pricing tobacco products indicating which would be the most influential.
Which one of the following statements about discretionary fiscal policy is correct? A. Discretionary fiscal policy refers to any change in government spending or taxes that destabilizes the economy. B. Discretionary fiscal policy refers to the change..
What are the two primary factors that influence a firm manager's choice between a labor-intensive and a capital-intensive method of production? How does each factor influence the manager's choice.
Run the appropriate regression to estimate the average variable cost function for Sting Rays and evaluate the statistical significance of the three estimated parameters using a significance level of 5 percent. Be sure to comment on the algebraic s..
Computing expected rate of return, required rate of return on a stock. Assume Walmart stock currently sells for $30 per share. The stock just paid a dividend of $0.75 per share.
Analyze the challenges that companies face in entering global markets. Identify the potential impact to capital budgets in making the decision to move into a global market.
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