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Explain why the cost structure associated with many kinds of information goods and services might imply a market supplied by a small number of large firms. (At the same time, one internet business such as grocery home deliveries have continually suffered steep losses regardless of scale. Explain why.) Could lower transaction costs in e-commerce ever make it easier for small suppliers to compete? network externalities are often an important aspect of demand for information goods and services. (The benefits to customers of using software, participating in electronic markets, or using instant messaging increase with the number of other users.) How might network externalities affect firm operating strategies (pricing, output, and advertising) and firm size?
A firm sells in a competitive market in which price is $10. Its marginal cost is 2 + .5Q. Find out the profit-maximizing level of output.
In your own words, describe the law of demand through the income and substitution effects, using a price increase as a point of departure for your discussion.
Construct a scatter graph showing the advertising and sales relationship over the last twelve months and using multiple regression, conduct an analysis of the firm's sales revenue, consumer incomes, and advertising.
Political Economy GV307 : Consider the model of “no theft” where the consumer pays the official government price plus a bribe in order to obtain X. Assume that the official marginal revenue for selling the good in this context is given.
Question: Do brief research on ASEAN Economic Community (AEC) and discuss on the following questions: How does the AEC affect the multinational firms investing in AEC members? What is the effect of AEC on the U.S. economy?
Graph the long run equilibrium for perfect competition. Using a similar average cost curve, graph the long run equilibrium for monopolistic competition.
What is the total cost of producing q units of honey for an individual honey producer and what is the average cost of producing q units of honey per month for an individual producer?
If market price is $60, how many units of output will the firm produce? Zero units of output because the firm shuts down. 1 unit of output. 2 units of output. 3 units of output.
Cost-Plus Pricing. Wendel Stove Company is developing a "professional" model stove aimed at the home market. The company estimates that variable costs will be $2,000 per unit and fixed costs will be $10,000,000 per year.
Suppose a firm in the short run under perfect competition with P=250, TC=1,000 + 100Q + 2.5Q^2 , and MC=10+5Q-Find out the level of output that the firm needs to produce to maximize profits?
It has now become common for firms situating assembly plants to make states compete for their industry; states and local governments often race to offer most generous tax profits.
The latest economic news was not very positive. Unemployment rates were higher than expected, consumer confidence had fallen, and companies were reporting layoffs were in order. The Federal Reserve chairman acknowledged the economy was in a recess..
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