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Currently, a fast-food firm has a monopoly in the university student union. The monopoly pays the university $75,000 a year in order to maintain it. The firm earns an economic profit of $290,000 per year. Another fast-food firm wants to enter the market and offer its fare to students. The manager of the first firm calls the university president asking her to maintain the first firm's monopoly. How much would the first firm be willing to pay to keep the monopoly?
At what prices is the demand elastic? In what price interval is the demand inelastic? How does revenue change from the elastic to the inelastic zone of the demand?
What global social interests or responsibilities, if any, do we have as consumers to the losers of globalization? Discuss and justify your postings and responses with other students in our course.
If LFC sells chicken and biscuits as a meal deal, illustrate what price would be set for the meal deal which includes both an order of chicken and an order of biscuits.
According to the human skills theory of comparative advantage, developing countries would be expected to have a(n). After-transfers family income is the sum of
Assume there is a 50% chance of the savings account losing half your money. Elucidate how much does the person save now?
Elucidate how the investor's curves would appear if she adopts the 50:50 strategies but would not accept any additional return.
Write down an expression describing total income from tickets plus popcorn plus other concessions. Forecast total incomes for regular also special Tuesday-night pricing.
What is happening to the US real exchange rate in each of the following situations? Explain.
Explain price elasticity, income elasticity and cross elasticity of demand. Assess relevance of price elasticity of demand, income elasticity of demand and cross elasticity of demand to a magazine publisher.
q. a county is considering using a piece of park land for one of two alternative recreation projects. project s would
What is the minimum price at which the firm would be willing to supply a positive amount of output in the short run? Label this on your graph.
Illustrate what criteria are you using to classify this industry as an example of oligopoly.
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