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Costs and revenues of a limousine service
A limousine service is located on the north side of Indianapolis. It specializes in transporting people to and from the Indianapolis airport, although it will deliver people anywhere in the Indianapolis area. It competes with taxis and public transportation as well as people deciding to drive their own cars. The demand for the firm's services has been increased as more consumers use the service for convenience and due to higher parking rates at the airport. However, increases in gasoline prices and wage rates for drivers have increased costs for the firm. Describe the supply and demand shifts that are occurring for this firm. What recommendations do you have for Speedy to offset the impact of their increasing costs? What recommendations do you have for Speedy to increase their total revenues? (graphs might help in your description)
Now, assume the ECB also employs comparably aggressive policy. Copy your results from the left graph and show on the right graph how the ECB could affect the USD/EUR exchange rate.
Compute the price or output combination and the total economic profits which would result if competitors offer clones which make the QuickerBetter market competitive.
The absolute value of coefficient of the price elasticity of demand.
The level of investment down because of a lack of confidence in the economy. Interest rates are kept artificially low by the Federal Reserve for several years.
If the desired fiscal stimulus is $20 billion and the desired AD increase is $50 billion, we can conclude that the MPC is:
Provide an update on the economy-where is unemployment, what is the outlook for the deficit, what are the overall predictions for 2010 - 2012?
Elucidate the difference between a monopoly and an oligopoly, and a cartel. Provide an example of a monopoly, an oligopoly, and a cartel. Describe the welfare effects of monopolies and oligopolies.
Explain how can these limits to reimbursement be viewed as the exercise of monopsony power.
A perfect competitive firm has the cost function TC = 1000 + 2Q + 0.1 Q^2-What is the lowest price at which the firm can break even?
You have been hired as a plant manager for a firm that produces widgets (Q) in Angola, Indiana. Widget production requires machine time (K) and labor time (L).
Describe which is elastic and inelastic in the attached question and also how to arrive at the answer for this question:
Prior to opening his hardware shop Bob worked as an investment banker earning $175,000 each year. He pays his employees $150,000 per year.
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