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An industry consists of three firms with sales of $200,000, $500,000, $400,000.
a. Compute the Herfindal-Hirschmann index (HHI)
b. Compute the four-firm ratio. (C^4)
c. Based on the US Dept. of Justic Mergers Guidelines do you think the dept would block the merger between the firms with sales of $200,000 and $400,000. Explain your findings.
A firm has determined that its variable costs are given by the following relationship:
What is the Exy and what does that number mean and what is the relationship between these two goods - What would happen to total revenue with the price reduction
What is the cost of using this machinery for one year? How would your answer be different if the machinery had not yet been purchased?
The problem in economics in price theory deals with deriving maximum marginal utility and marginal rate of substitution and price elasticity of demand.
Do you agree that the only way to raise equilibrium quantity is to raise supply and demand together? Why agree or why not agree?
Use arc-approximation formula to compute the price-elasticity of demand coefficient of the firm's product demand between the (quantity, price) points of (100, $20) and (300, $10).
Compute the quantity supplied by each firm at prices of $1, $1.50, and $2. What is the minimum price necessary for each individual firm to supply output?
Evaluate price elasticity of demand
What is the law of diminishing returns? Can you provide an example of when diminishing returns have set in (could set in) at a work place?
How would you know demand has increased? (What is the first piece of information which would lead you to conclude that demand has increased?)
How many units of phosphorus will these two firms emit if the phosphorus emissions are left unregulated? What is the socially optimal level of phosphorus emissions in the river?
Find the equation of the new demand curve for Chevrolets. Plot the new demand curve, D1 c' and, on the same graph, plot the curve for Chevrolets, D c'. found in 2 (d).
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