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Describe the characteristics of monopolistic competition. Be sure to include the following: the implications of the barriers to entry/exit, the efficiency of this market, profit maximization, elasticity, an explanation of why advertising is more important in this market structure compared to the other types, and any other important characteristics.
Assume a market is characterized by a unionized and a non unionized sector. Both sections initially have supply given through Q=10,000+25w, and demand by Q=20,000-10w, where w is weekly salary.
The owner-manager of Good Guys Enterprises obtains utility from income (profit) and from having the firm behave in a socially conscious manner, such as making charitable contributions or civic expenditures. Can you set up the problem and derive th..
Describe the impact of the recent economic crisis in the U.S. on the automobile industry, with special reference to the operating costs and auto sales in the industry.
"Since the indirect utility function, under standard assumptions, is quasi-convex in prices, randomization over equilibrium prices can be Pareto improving even if fundamentals are not stochastic." Assess this claim and its implications or compatibi..
Write a report outlining what firms need to do in order to bring in the most talented people (from anywhere) and make the fullest possible use of their abilities.
Suppose that in response to a foreign crisis, the goverment increases defenst spending to $50 billion. How would the increase in defense spending affect the economy How would the effects differ depending on the size and sign of the output gap when..
What is the effect of the United Arab Emirates' increasing sovereign wealth funds on GDP?
Assume the standard deviation is $3,730 and that debt amounts are normally distributed or what is the probability that the debt for a randomly selected borrower with good credit is more than $18,000?
A new competitor enters the industry and competes with a second firm, which had been a monopolist. The second firm finds that although demand is not perfectly elastic, it is now relatively more elastic.
Analyze and recommend a strategy for communicating the policy to the organization in a manner that meets the needs of the audience. Specify potential limitations of the policy and strategies for monitoring and compliance.
Assume a certain firm in a competitive market is producing Q = 1,000 units of output. At Q = 1,000, the firm's marginal cost equals $15 and its average total cost equals $11. The firm sells its output for $12 per unit.
Py =4 and Uo is the maximal level utility when Px =5, Py =4 and I =100. find the the compensated demand curve (or of Hicks) and draw it on the same graph. for what value of Px the two curves will cut? what is the elasticity of compensated demand w..
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