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1. Please explain why a monopoly has no supply curve.
2. Explain why in a monopolistic industry, if demand and cost curves are the same as those of a competitive industry, and if the demand curve has a negative slope and the supply curve has a positive slope, then monopoly output will be lower and price will be higher than those of the competitive industry.
As advisors insists that this would not work, another advisor thinks it's good policy. Which advisor is correct.
Bright Future, Ltd (BF) is a non-profit foundation providing medical treatment to emotionally distressed children. Determine the optimal amount of service provided by BF.
Ilulustrate what incentives are needed for business to adopt new technology.
Assume that the market labor supply and labor demand equations are given through Qs = 5W and Qd = 30 - 5W. If a minimum wage is set at $4.00 (W = 4),
Assume that the yearly personal income per capita is in the US is $39,000 in 2008, the price of gasoline is $4.00 per gallon, and the consumption of gasoline per capita is 450 gallons.
Elucidate how the steepness of the short run aggregate supply curve affects the government's ability to use fiscal policy to change real GDP.
Using the Lerner index, find the price elasticity of demand for Botox and interpret what this value means to total revenue if the price of Botox were increased one percentage point.
What is value added in every sector also what is total output for the economy.
Explain the relationship between total, average, and marginal concepts and how these measures are important to optimization examine
Depends on your discussion, what is the most critical element(determinant) when considering the determinants of supply. In other words, what determinant has the greatest influence on the economy.
Banks fail when all depositors try to withdraw money at same time. One way to stop this problem would be to need banks to hold 100 percent of deposits on hand.
Illustrate what kinds of changes in underlying conditions can cause the supply and demand curves to shift
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