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Please help me answer these 3 questions thoroughly.
1. Define perfect competition. Explain how this theory has or does not have (in your opinion) relevance in economic theory.
2. Briefly explain how Robinson and Marx defined labor exploitation.
3. Briefly explain how Robinson and Marx defined labor exploitation.
Show that consumer surplus when the monopolist innovates is lower than the consumer surplus that obtains when the entrant innovates.
A truck for hauling coal has estimated net cost of $55,000 and expected to give service life of 250,000 miles with salvage value of $5,000. Compute the allowed depreciation amount for truck usage of 30,000 miles. (Hint: Consider miles equivalent to t..
In a short paragraph, what were the Fed’s goals in implementing Quantitative Easing and Operation Twist? What are the short and long term consequences of these monetary programs ? What are the features of monopolies? Are monopolies always large firms..
Describe the circumstances under which a firm chooses a low-cost strategy to attain sustainable competitive advantage. What about the situations when a differentiation strategy is chosen?
(a) Produce the descriptive statistics on the stock index that are given, present an OLS estimate of B (b) Perform a test of the hypothesis that the drift is zero. Use a 5% level of signicance. State all elements of your test procedure carefully.
Describe the innovation life cycle proposed by Abernathy and Utterback. Does the model provide a useful tool to guide and manage the innovation process? Do you see any weak points in the model?
Explain why governments’ attempts to do better than free competitive markets in equilibrium at either deciding on what quantities should be produced or for what prices things should sell are likely to be a bad idea?
Suppose we have an agricultural valley 100km by 50km, with a polluting electricity power plant. The power plant causes pollution problems on a narrow strip of land downwind of the plant, and within this valley 10km in length and 500 m in width, but n..
Remain in mind about your paper that is going to be read by people without previous knowledge of game theory.
Illustrate what effect does the current supply and currently demand have on this product.
Avoid having developed economies regress to a Smoot-Hawley type of isolationism or protectionism to avoid job losses in import-competing sectors.
Why tax multiplier is smaller than the multiplier for the same amount of government spending? Please explain with the following data: $1 million tax cuts, $1 million increase in government spending, MPC=0.75.
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