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Give examples of competition of firms in Oligopoly and Monopolistic Competition, from the real world. In which market will one firm's probable decision affects the other firm's decision? Try to think of situations of of how they would compete in the market.
a nation to have commercial relations with other countries
Elucidate the fiscal policy also which factors limit its effect.
Oligopoly problem - Let the profit and cost functions be p(yT) = 60 - yT, Each firms cost functions equal the square of its output.
Explain how the US government managed to accumulate a debt of over 14 trillion. To whom does it owe this debt? Is the debt a burden on future generations?
Determine what managers can do to prepare for the possible change in short-run production. Pick a real or fictitious business. Create a scenario around this business in which a manager would decide to either stop operations in the short-run or goin..
Data collected in the imaginary economy of Kharkeez reveals that when the price of a bork increased by 20%, the quantity of bork sold decreased by 30%, and the quantity of perf demanded increase by 15%
Suppose a product sold in a competitive market is subject to a government price control. Suppose the regulated price is less than the free market equilibrium price.
a. What is the externality here? b. What command-and-control policy might the landlord impose? Could such a policy lead to an inefficient outcome?
What is the combined (total) demand schedule for Belgian cocoa beans that European and USA consumers buy?
In 1939, with the U.S. economy not yet fully recovered from the Great Depression, President Roosevelt proclaimed that Thanksgiving would fall a week earlier than usual so that the shopping period before Christmas would be longer.
If a country has __________ in the production of an item, it can produce __________ of the item (for a given quantity of resources) than can other nations
Explain why is there free trade among states in the United States but not necessarily among countries.
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