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If firms in a monopolistically competitive industry are making an economic profit, Select one: a. all of the answers are correct. b. price is higher than marginal cost. c. new firms will enter the industry. d. economic profit will fall in future periods.
Suppose that a manufacturer is a monopolist in selling some product to a number of competitive retailers at wholesale price w. The manufacturer has marginal cost of $10 per unit. What is the market equilibrium retail price p? What is the profit-maxim..
Assume that you have two ways to get the money, one way is to have it at present, so PV=10,000, another way is to get it in the future, so FV=11,000. Which one would you like to choose ? Why?
Identify the nature of resource cost structure and the practical significance of different costs and explain the factors influencing optimum size and the significance of demand and supply relationships;
Chinese private-sector wages rose 14 percent in 2012. This trend in rapidly rising wage rates might hurt its manufacturing dominance. Explain the effect of the rising wage rates on the supply of manufactured goods.
Elucidate, with the aid of demand and supply curves, the impact of increased crime on the demand for private security services. On your diagram, show the changes in the equillibrium price and quantity.
Compare the unemployment rate in the state of New Jersey to the national average of the past four years. Compare the trends in relation to the types of unemployed workers in the state of New Jersey. Compare the trends in relation to the types of unem..
Medical costs are once again rising rapidly, forcing health care back into political prominence. This issue direct affects you as a student, family member, employer, and/or employee. The problem of medical costs is so pervasive that it underlies thre..
We all have “service failure” stories to tell. As a matter of fact, most people love to tell about a time when a firm provided sub-par service to us as consumers. Sometimes these stories are humorous and other times they are sad. However, was that se..
Horsehead, Massachusetts lies on a bay inhabited by lobsters. The town council issues permits for trapping lobsters and is trying to determine how many permits to issue. Assume that is costs $2,000 to operate a lobster boat and that if there are x bo..
Depends on economic casebook how much does it cost to make a pair of nike shoes international.
How reliable is the Internet as a source of information for your research? What are the ways you can validate information that you find on the Internet? Why is this necessary? Use examples from the Information Literacy module you reviewed this week.
Elucidate how changes in government spending also taxes positively do or negatively affect the economy's production also employment.
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