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1. Suppose Wave detergent is sold in a monopolistically competitive market. If the price of Wavedetergent is currently $6 and the ATC is $4, in the long-run we expect
a. The demand curve for Wave to shift to the leftb. The demand curve for Wave to shift to the rightc. The producers of Wave to go out of businessd. The producers of Wave to earn economic profits greater than zeroe. The producers of Wave to earn economic losses
2. In the long run, there will be no unexploited scale economies (excess capacity) in
a. competitive marketsb. monopolistically competitive marketsc. oligopoly marketsd. monopoly markets
3. A perfectly price-discriminating monopolist is able to
a. exercise illegal preferences regarding the race and/or gender of its employees.b. maximize profit and produce a socially-optimal level of output.c. maximize profit, but not produce a socially-optimal level of output.d. produce a socially-optimal level of output, but not maximize profit.
Nancy Tai has recently opened a revolving charge account with MasterCard. Her credit limit is $1000, but she has not charged that much since starting the account.
Suppose that government spending is raised at the same time that the money supply is lowered. What will happen to the position of the aggregate demand curve?
problems of using fiscal policy to achieve a precise level of GDP
Select a (domestic) public limited company of your choice which has some degree of market power. In an essay of 2400 words or fewer, evaluate the pricing strategies it employs for its core product/business in order to increase its market share and p..
If the price index was 110 last year and is 121 this year, what is this year’s rate of inflation? What is the “rule of 70”? How long would it take for the price level to double if inflation persisted at (a) 2, (b) 5, and (c) 10 percent per year?
Assume a typical customer’s inverse demand function for bottled water at a resort area where one firm owns all the rights to a local spring is given by P = 15 - 3Q.
Explain what happens to the position of the nation's short-run Phillips Curve if the following events occur:
Explain why the marginal revenue curve for a monopolist lies below its demand curve, rather than coinciding with the demand curve , as is the case for a perfectly competitive firm. Is it ever possible for monopolist's marginal revenue curve to coi..
Which of the following measures of the money supply is currency included in - If the growth rate of the money supply is 8%, the growth rate of the velocity of money is 4% and inflation is 6%, what is the Solow growth rate?
2. What will happen to equilibrium income in the following cases a. The mpe is 0.8, and autonomous consumption declines by $200. b. The mpe and mpc are both 0.5, and taxes rise by $400. How much of an increase in government spending would be required
In the model of a dominant company, assume that the fringe supply curve is given through Q = -1 + 0.2P, where P is market price and Q is output. Demand is given by Q = 11 - P.
As compared to high Japanese inflation may result in an increase in the supply of yen for sale
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