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Two firms compete under Cournot competition with constant marginal costs c1 = 2 and c2 =6. The market demand is p=24-q.
a) Compute the market share of each firm, the market price, and the total quantity produced in the market.
c) Compute the Lerner index.
what effect would this change have on the wages in the two markets you illustrated in part (a)? what effect would the change have on the average wages of men and women?
You are borrowing money to buy your first house that costs $250,000. You go to the first bank you see, Big Attitude Bank, and they are charging 5% interest. After taking this class, you decide to shop around and find a bank called Super Cheap, that i..
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Just breaks even over the year as whole. a Wouldn't the restaurant do better by staying closed out of season. At what cost will it shut down, given that all its fixed costs are sunk.
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q.amazon instant video charges 4 per movie rental per day. if your demand curve for movie rentals is given by p 16-3q
Suppose a consumer is at an optimum, consuming 6 hamburgers a week at a price of $1.50 each and 10 donuts a week at 50 cents a donut.
If we say a good is “perfectly inelastic”, then:
Assume the graphs represent the demand for utilize of a local golf course for which there is no significant competition.
Find U.S. civilian employment date for the last 10 years. How many more workers were there at the end of the last 10 years than at the beginning. Elucidate how did this impact the nation's production possibilities curve.
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