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Assume a market is controlled by a three firm oligopoly where the market demand curve is given by p = 75 - 3Q and marginal cost is equal to 5. How much does each firm produce and at what price if they form a profit maximizing cartel where each firm acts identically?
Income from the mining of mineral deposits usually decreases as the resource becomes more difficult to extract. Determine the future worth in year 10 of a mineral lease that yields income of $12,000 in years one through four and then amounts that..
Explain how is the current account related to a country's business cycle. What is the relationship between a country's net financial inflow and its current account.
Why has the Federal Reserve selected this policy at this time? What efects does the Federal Reserve expect this policy to have on the U.S. economy?
Some nations have very different economies. In the absence of market-set prices, how are prices determined for household goods.
Elucidate proportion of the variation in sales is explained by the independent variables in the equations
What would an economists say that the burden of the FICA tax is shared equally. Who bears more of the tax burden Workers or employers.
Credit cards are sometimes discussed as a public problem. In 2001, purchases on credit cards accounted for 21% of consumer spending in America, which has the lowest savings rate of any big country.
Explain the differecnce between fixed-procuction technology and variable-production technology. Should the government set a goal of reducing the marginal social cost of pollution to zero in industries with fixed-production technology
If a firm has created value is it also always able to capture that value How does a firm create value and then what must it be able to do to capture that value Please provide an example of a firm that has been able to create value.
Sara's income is $12 a week. The price of popcorn is $3 a bag, and the price of a cola is $3 a can. a. What is Sara's real income in terms of cola? b. What is her real income in terms of popcorn?
A firm in a competitive industry has marginal revenue which depends on the shape of the consumers' demand curve. In a competitive industry, the price elasticity of the aggregate industry supply curve will always be greater than or equal to the pric..
Describe why relatively flat as opposed relatively steep labor demand curves are more consistent with empirical observation that there are relatively minor changes in the real wage rate over course of business cycle.
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