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There are 2 firms to consider here from 2 different industries. A firm in Industry A has MC of production = $100 and they know from historical experience that their Lerner index is 0.3. A firm in Industry B has MC of production = $35 and they know from historical experience that their Lerner index is 0.55. a. Determine the optimal price that both firms should be charging. b. Articulate which firm is more likely to earn ‘excess profits’ in the long run…and explain why this is your answer using your understanding of the connection between the Lerner index and industry concentration.
Suppose the marginal costs of pollution reduction are unknown and the government is choosing between regulating the quantity of pollution directly or taxing pollution. “If the marginal benefit from pollution reduction is elastic (flat), it is better ..
Some reject fiscal stimulus measures in all policy forms. Explain what the various limitations are to a successful fiscal stimulus. Be sure to consider the damaging activities and decisions of (a) private corporations, (b) commercial banks, and (c) w..
Should innovation activities be linked to our efforts to develop a strategic advantage or should innovation efforts be experimental with an objective of finding products or services that may be profitable at some indefinite point?
Discuss three ways that parties organize American politics. Consider how politics organize our thinking, campaigns and elections, and Congress. Use an example from current events to illustrate each one of these dimensions.
Consider the following project balances for a typical investment project with the service life of four years: Determine the interest rate used in computing the project balances. Construct the original cash flows of the project. Would this project be ..
Explain why income taxes were raised 200% (from 1.5, 4, and 25 percent to 5, 8, and 63 percent) by the Revenue Act of 1932, and describe the effects.
In the section of the text headed “Marginal Principle: Let Bygones Be Bygones,” it is emphasized that a firm, in setting output and price according to MR = MC, will disregard fixed cost.
One necessary step in demonstrating monopolistic behavior is to define the market. In this process, defendants would:
What are the potential ethical or moral effects of the organization’s social initiative or potential social initiative?
Discuss the elements that make up Australia's Current Account. Outline the cyclical and structural factors that have caused Current Account Deficits in the last decade.
Suppose the demand for apartment rentals in New York is Q = 1000 - P and the supply of apartment rentals is Q = 4P. What is the equilibrium price and quantity of apartment rentals in New York?
Capitalism was a derogatory term coined by Karl Marx to deride the riches of those who accumilated captital . He said that the accumulation of capital helps the rich get richer while simultaneously making the poor get poorer. Have the poor become poo..
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