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Decade ago, five firms supplied amateur color film in the United States: Kodak, Fuji, Konica, Agfa, and 3M. From a technical viewpoint, there was little difference in the quality of color film produced by these firms, yet Kodak's market share was 67 percent. The own price elasticity of demand for Kodak film was -2.0 and the market elasticity of demand was -1.75. Suppose that in the 1990s, the average retail price of a roll of Kodak film was $6.95 and that Kodak's marginal cost was $3.475 per roll. Based on this information, discuss industry concentration, demand and market conditions, and the pricing behavior of Kodak in the 1990s. Do you think the industry environment is significantly different today? Explain.
Calculate the marginal and average variable product of each unit of labor input. Hint: plot your Units of labor and Units of Output vertically. Calculate total, average total, average variable, and marginal costs.
What do you see as the basic values that underlie this approach to solving the access to care problem? Do these values align with specific political perspectives?
Identify and discuss the tests used to determine whether a law complies with the equal protection clause What is discovery and what are the methods to obtain this information How does each method work
Suppose that Natasha’s utility function is given byu(I) = 10I, where I represents annual income in thousands of dollars.
Using equation y*=A(k*)^(1/3), the prediction of the Solow-Swan model, and assuming labor is constant; explain why the growth rate of TFP is equal to growth rate of GDP per capital
Suppose a firm in the short run under perfect competition with P=250, TC=1,000 + 100Q + 2.5Q^2 , and MC=10+5Q-Find out the level of output that the firm needs to produce to maximize profits?
Consider an economy with three types of drivers: safe (s), inexperienced (i), and crazy (c). There is an equal number of each of these drivers, and their wealth when they do not get into an accident is $324 per person. In any given year, the proba..
Choose a market for a good in your area that seems to be a perfectly competitive market. Write four or five substantive paragraphs that describes the market and answers the following questions: Identify the buyers and sellers as well as the goods o..
Calculate her utility maximizing choice of food and clothing and calculate the level of utility her optimal consumption bundle gives to her.
The clerk answered, "I can't do that." When the customer started to leave the store, the clerk hastily offered, "However, I am authorized to give you a 40 percent discount on any pair in the store.
Porter seeks accommodation for a religious practice unique to the Heavenly Masters. Porter's employer has never heard of this religion. In order to determine whether Porter's demand for accommodation is truly based on religion, the employer must d..
What is the question you want to use the dataset to try and answer? What is your key independent variable(s)?
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