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In the 1990s, five firms supplied amateur color film in the United States: Kodak, Fuji, Konica, Agfa, and 3M. From a technical viewpoint, there was little difference in the quality of color film produced by these firms, yet Kodak's market share was 67 percent. The own price elasticity of demand for Kodak film was -2.0 and the market elasticity of demand was -1.75. Suppose that in the 1990s, the average retail price of a roll of Kodak film was $6.95 and that Kodak's marginal cost was $3.475 per roll. Based on this information, discuss industry concentration, demand and market conditions, and the pricing behavior of Kodak in the 1990s. Do you think the industry environment is significantly different today? Explain.
If the price increases by 10 percent, by how much does the quantity of household (a) natural gas and (b) electricity change in the short run and in the long run?
Consider a consumer with $10 to spend on these 2 goods where the price of apples is always $2 every.
Describe an industry that would meet conditions of a perfectly competitive industry and how individual firms would respond to an increasing market demand for product.
Given the expected price level, policies for reaching potential GDP will work best if the funds provide.
If the resource prices return to original levels, but a new technique is invented that can produce.
Illustrate what are the pros and cons of using expansionary and contractionary fiscal policy tools under the following scenarios: depression, recession, and robust economic growth.
Explain why the different definitions are important also explain the different procedures of the money supply.
Suppose that inflation is 2 percent, the Federal funds rate is 4 percent, and real GDP falls 2 percent below potential GDP. According to the Taylor rule, in what direction and by how much should the Fed change the real Federal funds rate?
Explain how high should a monopoly set its prices in order to maximize profits. When you post a response to this question, place it in the context of one of the following examples.
Decrease will have on the desired proportions of capital and labor used in producing the given level of output at minimum total cost.
Illustrate what means do they use to hedge against exchange rate risk. Using this information.
Illustrate what would be the effect of poor weather on the consumer surplus, producer surplus, deadweight loss.
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