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Consider a monocentric city with commuting costs of $40 per mile.A household 8 miles from the city center occupies a dwelling with 1000 square feet at a monthly rental rate of $600.Non-land costs are $250 per dwelling and there are 10 dwellings per acre.The price of housing at a distance of 8 miles is $________ per square foot.
A monopoly with a more elastic demand curve will have more market power and monopolist can earn positive profits in the long run because it has market power
Jet Set Travel, Inc. (JTI) has been hugely successful in the distribution of stylish, comfortable shoes for travel. Please describe how non-value added costs can damage the company, it sales, it costs, and it's value chain
Some economists have argued that if the government wishes to subsidize health care, it should instead provide predetermined sums of payments (based on the type of health care problems experienced) directly to patients, who then would be free to ch..
Using concepts used just in Microeconomics(and ignoring any that you might think relevant from Macroeconomics), what does economics have to say about global warming. Is the lesser role for he market and of competition in China.
Pick a social problem where free markets aren't allowed to function and explain how free market features could be introduced to aid alleviate the problem.
Discuss actions governments can use to restrict free trade; give at least two specific examples and explain the advantages and disadvantages of government restriction on free trade in each situation.
In a separate group discussion board, present two arguments. The first should argue in favor of the proposed merger, from the perspective of the firms. The second agrues against the proposed merger from the perspective of the broader public intere..
what is the concentration ratio for the industry x and y. (number of firm) ----(industry x) ------ (industry y) (1) -----------------------8,750-------- --------1,750 (2) -----------------------7,500---------------- 1,725
Describe briefly a market in an important product, resource or service in which demand and supply is not mediated through price mechanism. What alternative mechanism is used to allocate the scarce resource or product in this market [Hint, one such..
Many analysts in both developed and developing worlds have heavily criticized the cases of monopolies. Discuss using relevant examples whether it is a good policy for the government to completely eliminate monopoly power.
The wage paid to engineers is $4000, while technicians, who are not as skilled as engineers, receive $2000. The firm's budget on a particular project is $28,000. How many engineers and how many technicians should be hired in order to maximize p..
Suppose the Federal Reserve announced that it would pursue contractionary monetary policy to reduce the inflation rate. Would the following conditions make the ensuing recession more or less severe.Wage contracts have short durations.
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