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Competitive industry, market determined price =$12, Output = 50 units, ATC = $10, Marginal cost = $15, AVC = $7
Is this firm making the right profit maximizing decision? If yes, why and if not, what should this firm do?
Why might some people claim that the breakfast cereal industry is monopolistically competitive but that the automobile industry is an oligopoly? In both cases, about eight to ten firms dominate the industry.
Write down the household's budget constraints for period 1 and 2 and identify the current account.
Evaluate the MU in the utility functions
What are the efficient quantities for each of the two periods? What are the correspondingprices and MUCs?
Find out if, for the good marked with ALL CAP lettering, if there is the increase or decrease in demand.
You were recently hired to replace the manager of the Roller Division at a major conveyor manufacturing firm, despite the manager's strong external sales record.
XYZ Corporation faces a horizontal demand curve and the market price is given to be $15. Compute the shutdown price of operations for Corporation XYZ.
The problem in economics in price theory deals with deriving maximum marginal utility and marginal rate of substitution and price elasticity of demand.
The demand curve for the product X is given by Qdx = 460 - 4Px. How much consumer surplus do consumers receive when Px = $35?
Airway Express has an evening flight from Los Angeles to New York with an average of 80 passengers and a return flight the next afternoon with an average of 50 passengers.
Explain the median housing price in a community
Show the country's production possibility curve.
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