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A central market for a competitive industry is supplied by firms working in two different locally governed areas (A and B). The distance between them and the centre is the same. The local government in province A proposes to improve the lot of its public by offering a special bonus to all producers in their area.
(a) Describe the initial set-up of the market;
(b) Analyse the effects of the local policy on the market in the short-run;
(c) Assuming that for cultural reasons there is barely any labour mobility across provinces, what would happen to equilibrium price and quantity, the number of firms in each region and the level of each firm's output? Will the government improve the lot of its public?
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At its current level of production, a profit-maximizing firm in a competitive market receives $12.50 for each unit it produces, and it faces an average total cost of $10. At the market price of $12.50 per unit, the firm's marginal cost curve crosses ..
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Make a short paper which relates how specific material from economic course where we cover supply and demand, elasticity and etc.
Markets in developed economies are approaching saturation level. Therefore, MNCs are searching for new untapped markets in emerging countries such as India and China.
Player The 7th Inning wants to group a collection of autographed photos by price ranges. The table with the prices is shown on the right. What percent of the collection is priced below $20?
question 1you are making your first export shipment.nbsp list five expenses you might incur that you wouldnt have in a
Assume that the unemployment benefits provided by the private sector (firms) are increased permanently, please answer the following questions.
Compute the coefficient of price elasticity for the price ranges given in the schedule and complete the first column of the table. What do you notice about the algebraic sign of the values you have just computed? Why is this so?
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