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Suppose there are nine sellers and nine buyers, each willing to buy or sell one unit of a good, with values {$10, $9, $8, $7, $6, $5, $4, $3, $2}. Assuming no transactions costs and a competitive marketWhat is the optimal bid-ask spread?a. $2 bid; $10 askb. $4 bid; $8 askc. $5 bid; $7 askd. $6 bid; $6 ask5.Now suppose that competition among several market makers forces the spread down to $2. How many goods are traded?
What is wrong with this statement: Whenever the industry fails to achieve allocative efficiency by producing too little output, the shortage arises.
Why does rent control result in a shortage of rental units and any time there is a shortage of a good it means that the price is too low. Analyze this statement.
Find out the firm's optimal quantity, price, and profit (1) by using the profit and the marginal profit equations and (2) by setting MR equal to MC. Also provide a graph of MR and MC.
The question is that if two firms in the Cornout market merge into one firm, what would the merger result in? how much of marginal cost would prevail in the market, etc are answered in a detailed in manner in the solution.
Dsecribe a complete business cycle (trough, peak, expansion, recession), focusing on what happens to output, investment, employment in each phase.
Will firms in industries, in which high levels of output are necessary for minimum efficient scale, tend to have substantial degrees of operating leverage? Please explain.
One way to view the law of diminishing marginal productivity is to say that, The concept of derived demand can best be illustrated by the statement:
How would you know demand has increased? (What is the first piece of information which would lead you to conclude that demand has increased?)
What are issues in choice of functional form and what would be an alternate functional form that avoids these issues?
Marketing mix is controllable set of activities that the firm employs to respond to the wants of its target markets. Make a report on the marketing mix and keep the following questions in mind:
In a practical sense, write your opinions on the effect a rule stating that university students must live in university dormitories would have on the price elasticity of demand for dormitory space.
What market structure best characterizes the market in which universities compete? How does this structure influence the university's pricing strategy?
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