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A farmer must decide what combination of seed, water, fertilizer, and pest control will be most profitable for the coming year. The local agricultural college did a study of this farmer's situation and prepared the following table
What is the goal of the European Union?
(a) Calculate the values of the real interest rate, the price level, consumption, and investment for the economy in general equilibrium. (b) Now suppose government purchases increase to 350 with no change in taxes. What will be the real interest ..
Which of the following features is needed to make bundling a possible price discrimination strategy but is not required for any other price discrimination strategies?The firm does not learn about customer demand until after purchase.
Happy s Pets inc has had a virtual monopoly anti depressants drugs for animals for many years (similar to Eli lilly product prozac for human) with a patent on this drug it has had very little competition and this drug has been a major source of co..
Many economists have attempted to create a set of social accounts that would come closer to measuring the economic well-being of the society than does GDP. What modifications of the current approach would you recommend to them
Provide reasons why monopolists do not exhibit resource allocative efficiency. Why monopolists cannot obtain any price they wish.
suppose that the disposal firm's state passes a law that limits waste disposal to 50,000 cubic feet per year, as a response to the monopolist's deadweight loss. Please calculate the change in the monopolist's deadweight loss.
How many major wireless phone handset manufacturers are there? What is the market structure? What pricing strategies do wireless phone handset manufacturers use?
Where the independent variables are respectively: P, price of McBurger’s burgers, PC, price of competitors' burgers, Y, per capita income, and A, McBurger’s advertising budget.You observe that competitors have, on average, priced their burgers at $3...
How to Restore Participating and Self-Support to Free Enterprise (Harvard University Press, 197), economist Edmund Phelps. Is the Phelps' plan an improvement over current government policies? 3. The availability of investment capital is critical f..
Determine the quantity demanded, the quantity supplied, and the magnitude of the surplus if a price floor of $42 is imposed in this market. Determine the quantity demanded,the quantity supplied, and the magnitude of the shortage if a pride ceiling..
The amount by which a firm's revenue will increase as a result of hiring one more worker is called the marginal revenue product of labor. Would a firm hire another worker if the marginal revenue product of labor exceeded the market wage rate? Why ..
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