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Assume the hot-pretzel stand industry in Toronto is perfectly competitive and operating in long-run equilibrium. There are 1000 firms in the industry. Each firm has the usual U-shaped average-total-cost curve. The market is in long-run competitive equilibrium.
Explain the entities affected by industrial regulation in terms of market structure. Explain why industrial regulation affects those entities you identified.
Suppose individuals require a certain level of food (x) to remain alive. Let this amount be given by X0. Once X0 is purchased, individuals obtain utility from food and other goods (y) of the form.
If labor productivity grew at the rate of 1.4% per year Illustrate what would average hourly compensation be in the year.
A social scientist claims that the average adult watches less than 26 hours of television per week.
Explain why government regulation is or is not needed, citing the major reasons for government involvement in a market economy. Provide support for your explanation.
A price index for nonresidential construction was 14 in 1949, 92 in 1987, and 114.5 in 2000. As per to these numbers the hospital cost about how much in 2000 dollars. Explain the price of a good is above equilibrium.
Illustrate what factors may influence a household when deciding between buying stocks, bonds, or a house.
Illustrate what relationship must hold between x and p so that A second order stochastically dominates B.
Who made up the Grange also Illustrate what effect did they have on the writing of the Texas constitution.
Compute the monthly payment and explain whether taking this loan is a smart business decision.
Merk is a biotech division of Bayer Pharmaceuticals. In its eight years of existence, Merk has had only one drug make it into clinical trials.
What can you determine about consumer demand for your product from this information.
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