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Describe three features of monopolistic competition that differentiate it from monopoly. Compare perfect competition and monopolistic competition. In what ways are they similar? In what ways are they different?
Drexoogle has developed the first computer (the “earpod”) that fits in one’s ear and functions as a phone, can tell you the time, and will conduct Google searches all in response to a person’s voice commands. What is the price and quantity that maxim..
A basic difference between microeconomics and macroeconomics is that microeconomic examines the choices made by individual participants in an economy, whereas macroeconomics considers the economy's overall performance.Why?
If 150 million workers produced America's GDP in 2010, according to the "World View" above, how much output did the average worker produce?
A goatherd has the cost function c(y) = 2y2, where y is the number of tubs of goat cheese she makes per month. She faces a competitive market for goat cheese,with a price of $40 a tub. How many tubs should she produce per month?
The spot price of oil is $110 per barrel and the cost of storing a barrel of oil for one year is $3.25, payable at the end of the year. The risk-free interest rate is 6% per annum, continuously compounded. What is an upper bound for the one-year futu..
In a waiting line model situation, arrivals occur around clock at a rate of six per day and service occurs at one very three hours. Assume Poisson and exponential distributions. Illustrate what is Mean Arrival Rate λ
In your analysis, make sure to provide an example of each type of externality. Why does the government need to get involved with externalities to bring about market efficiency? What solutions need to be provided for your xamples?
Two rms sell identical products and compete as Cournot (price-setting) competitors in a market with a demand of p = 150 - Q. Each rm has a constant marginal and average cost of $3 per unit of output. Compute each rm's best response function. Plot eac..
How are customer expectations today different from customer expectations of say 10-15 years ago? What are some reasons that contribute to that change's expectations regarding the level of customer service received?
Discuss tax systems and political philosophies associated with income inequalities. List and describe the relationship between the two tax principles and three tax systems discussed in this course. Include comments regarding the effects of tax on soc..
Two weeks later, Nina arrives and demands to purchase 15 of Seth's cars. Is he obligated to sell?
If a $25 per share stock has a P/E ratio of 20 and pays out 40 percent of its profits in dividends, How large is its dividend? What is the implied rate of return?
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