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Which of the following have traditionally been considered natural monopolies?a. Public universities
b. Public golf courses
c. public parks
d. public utilities
What will you put on sale in your district during the Valentine's Day week? You must provide your reasons and
Assume that instead of maximizing profit, the firm wants to maximize total revenue. Using algebra determine the optimal output, price, profit and revenue for the firm.
Having a little trouble setting this problem up. Would appreciate the detailed set up and solution. A production function has 2 inputs - labor and capital. Both are perfect substitutes. Existing technology permits 1 machine to do work of 3 workers..
What share will be paid by the consumer in the long run? How about the short run? Provide some intuition for why these are different.
Describe the importance of cost of capital with respect to the actual financial problem of most manufacturing companies.
Who are maximizing their rational choice, the Japanese or the Americans and which of the three forms would Adam Smith agree is the best choice?
Discuss the difference between a movement along and shift of the demand curve? Demonstrate the impact on the equilibrium price and quantity that results from;
Assume a company has the following demand equation, Q = 1,000 - 3,000P + 10A, where Q = quantity demanded, P = product value, and A = advertising expenditures
From what you know about these firms' cost structures, what is the highest possible price per unit that could exist as the market price in long-run equilibrium?
Find the revenue earned by each bakery. From that revenue subtract the bakery's variable cost and compute the firm's short run economic profit.
Find the quantity, price and profits in equilibrium. Calculate the consumer surplus. Are consumers better off or worse off in this situation than in (a)?
After Henry ford invented the assembly line for producing automobiles, other automobile companies copied his invention. The new technology rise the economies of scale in automobile producing.
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