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Public administration can't exist outside of its political context. Describe how politics affects the policy making process and the delivery of governmental services.
You're the marketing manager of a firm that produces Titanium and sells this metal to two distinct kinds of customers: aircraft producers and golf club manufacturers.
Find out if, for the good marked with ALL CAP lettering, if there is the increase or decrease in demand.
Find out the quantity at which profits are maximal. given that quantity, find out the price charged and monopolist's profits. (solve for answers using the equations)
Why do you think it is important for managers to understand the mechanics of supply and demand both in the short run and in the long run?
Am I right in saying an isoquant for an output produced using 2 inputs that can be perfectly substituted for each other can be represented by a straight line
Name any good or service which has a noticeable recent price change. Using concepts of supply and/or demand, what are some possible explanations for this change in price?
Assume a monopolist faces the following demand curve: P = 180 - 4Q. Marginal cost of production is stable and equal to $20, and there're no fixed costs. What is the monopolist's profit maximizing level of output?
Write down the some real-life examples of monopolistically competitive, oligopoly, and monopoly markets.
A firm sells specialized electronic computers. Each of the computers has a unique chip produced at a California plant at cost of Cw(Qc)=Q^2 c
Can you please explain the profit maximizing decision the perfectly competitive firm makes in the short run and describe why this firm can make profits in the short run, but profits aren't possible in the long run.
Assume that the demand curve for apples is given by Qd = 140 - 5P, where Qd is number of pounds demanded per year and p is the price per pound. The supply of apples can be described by Qs = 40 + 3P, where Qs is the number of pounds provided.
What is an "oligopoly" and why do they exist? Mention three or four oligopolies whose products you own or regularly purchase.
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