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Competitive advantages firms can exploit
What marketing, pricing, distribution or other competitive advantages can firms exploit (use concept of zero sum, positive sum, and negative sum games, and dominant market participants)?
What limits or constraints are on these firms?
Which of the following strategies are used by businesses to capture consumer surplus? Nash equilibria are stable because
Illustrate what is the number of kilowatt hours of electricity produced and what is the price that the company will charge.
Describe the creation of money from excess reserves and multiple deposit expansion in banking system. How does the multiplier affect the supply of money?
The setup activity price driver rate, using the best cost driver for this situation.
Consider the Bertrand model with no product differentiated in which each firm has a positive and fixed sunk cost F and zero marginal cost. What are the equilibrium prices and profits? Illustrate your result on a proper diagram.
Draw a graph of the market for banana. What are the equilibrium price and quantity? Explain why. If the price of banana was $1.50 a box. What would be the situation in the banana market (shortage or surplus)? Explain why and how the price and quanti..
Show how expansionary fiscal and monetary policies work. Under what conditions would these policies work more, or less, effectively?
Elucidate the difference between GDP and GNP. What adjustments needs to be made to GDP to arrive at GNP.
Explain why a monopolist will never set a price (and produce the corresponding output) at which the demand is price-inelastic.
Illustrate what are the four supply factors of economics growth. What is the efficiency factor? Please illustrate these factors in the terms of the production possibilities curve.
Elucidate why intermediate goods and services usually are not included directly in GDP. Are there any circumstances under which they would be included directly.
Evaluate the range of marginal revenues
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