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Part-1
What is the difference between average total cost and average variable cost?
Part-2
Michelle Slatalla (New York Times, February 3, 2005) stated, "The conven- tional wisdom a few years back was that the Internet would erase price differ- ences among retailers by giving customers instant access to the best deals. Mer- chants who charged more would be driven out of business." She further quoted Professor Michael Baye, who noted, "The prediction was price-comparison sites would create perfectly competitive environments in which all firms would have to charge the same price." These forecasts for the Internet creating "perfectly competitive" markets were based on the competitive model we have presented in this chapter. Do you think the Internet has helped create more competitivemarkets or less? Why
Assume a competitive industry is in long-run equilibrium and firms in the indus- try are earning normal profits. Now assume that production technology improves such that average total costs decline by $5 a unit. Describe the process this industry will go through as it moves to a new long-run equilibrium.
Evaluate the impact of the proposal to cut prices on total revenue, totalcost, and total profits - Price and Output Determination:Monopoly and Dominant Firms
Explain how data systems are changing several aspects of the accounting profession. Include a description of a variety of new technologies and their effects on accounting processes.
Select 5-innovations associated with Industrial Revolution and five innovations from Technological Revolution. For each innovation, recognize the effects it had on individuals, societies, businesses, and politics.
How was Malthus's view different from Keynes? How was the period during which he was writing affect this comparison? Does his feeling that the landed aristocracy should be promoted also affect this comparison?"
Which of the following changes to fiscal stimulus package of 2009 for $862 billion (under the bill called American Recovery and Reinvestment Act of 2009) would have a larger overall impact on AD? Explain your answer with credible logic and analysi..
Calculate output, marginal cost, averagecost, price and profit at the average cost-minimizing activity level and calculate these values at the profit-maximizing activity level.
Find linear demand and supply curves that are consistent with this information and how would the equilibrium price of ethanol motor fuel in the first half of 2008 compare to the price in 2007?
What does your anticipated adjustment process imply about the CR for the construction industry?
The market for a standard-sized cardboard container comprises two firms: BooBox and Flimflax. As manager of BooBox you enjoy patented technology which permits your company to produce boxes faster and at lower cost than Flimflax.
Calculate the life years lost due to car accident for a 28 year-old driver and Identify and indicate which treatments are dominated for elimination.
Use the first order conditions for profit maximisation to show that a monopolist will never produce on the inelastic portion of his demand curve.
Select a United States company with global operations. Discuss the company's activities outside the United States and Discuss the impact of globalization
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