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You are hired as the consultant to a monopolistically competitive firm. The firm reports the following information about its price, marginal cost, and average total cost. Can the firm possibly be maximizing profit? If not, what should it do to increase profit? If the firm is profit maximizing, is the firm in a long-run equilibrium? If not, what will happen to restore long-run equilibrium?
Select an article in a newspaper or magazine that discusses a government policy on goods or services.
Consider two firms competing in prices and selling a homogeneous product. The market demand curve is p = 100 - q and the constant marginal costs of the two firms are 10 and 20 respectively. Also, suppose all prices should be integer numbers.
Business AB create Keyboards for laptop computers for sales to computer manufacturers (OEMs). Account information shows the total cost of producing four potential quantities of keyboard:
Countries in the developing world are often concerned that their terms of trade may worsen economic growth occurs.
How is economic growth is measured Which factor of economic growth is the most difficult to measure accurately Make recommendations on how the factor you identified can be measured more accurately.
What is Country A's GDP - What is the composition of GDP by percentage and what is the GDP per capita
Illustrate what impact could this have on the level of production and therefore the unemployment rate.
Assume that 3-firms which produce a homogeneous output will compete by choosing prices and the market price P is the minimum of the 3-prices that are chosen.
Assume that a given set of resources can be used to make either handbags or wallets. The MC of a handbag is $19 and MC of a wallet is $10.
Explain why would this be described as a Prisoner's Dilemma game.
Elucidate what output level does average variable cost reach its minimum value. What is the value (in dollars) of the average variable cost at its minimum point.
the Cobb-Douglas production function given in equation 4-1 applies to a developing country. Instead of thinking of immigration from a developing to a developed country, suppose a developed country invests large amounts of capital (foreign direct i..
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