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In 2007,Potato chip industry in Northwest was competitively structured and in long run competitive equilibrium; companies were receiving a normal rate of return and were competing in a monopolistically competitive market structure. In 2008, two smart lawyers quietly bought up all the firms and began operations as a monopoly called "Wonks." To operate efficiently, Wonks hired a management consulting firm, which estimated a different long-run competitive equilibrium.
Given that the new company is now run as a monopoly, how will this benefit the stakeholders involved, such as the government, businesses, and consumers?
The average score on the Southern High test was 400 with a standard deviation of 250. Which of the subsequent statements is true given this information.
Determine which system, socialist or capitalist, feudalism or mercantilism, works better? Explain your reasoning? Also, which type of business gives the owner highest protection or the most incentive to succeed?
Explain however the inspector, who can test 20 units per hour, is paid $8 per hour, including fringe benefits. Should an inspection station be established to test all units. Illustrate what is the price to test each unit.
Safety inventory of coal also MRO materials is kept at twice the consumption during the lead time of supply. Illustrate what mode of transport do you recommend for each of the two products.
Develop an MRP planning schedule showing gross also net requirements, order release also order receipt dates.
Elucidate why cooperative approaches may stand up to legal review more easily in unionized plants than in non-unionized environments
Suppose that a student who has completed her undergraduate degree and is planniing pursuing an MBA as a full time student. The cost of the second year MBA program she is planning is $45,000 for tuition.
During that summer, he charged $1.69 each gallon for unleaded gas during daytime & $2.59 each gallon at night,
The supplier would like to deliver sweatshirts once a week. Explain how much will this price the Co-op per yr. Under illustrate what conditions would you agree to the supplier's proposal.
These price drivers would be equipment usage, storage area for the material also type of woods used.
Assume the firm can produce 5000 units of out put by combining its fixed capital with 100 units of labor and 450 units of raw materials. What are the total cost and average total cost of producing 5000 units of output?
The problem in economics in price theory deals with deriving maximum marginal utility and marginal rate of substitution and price elasticity of demand.
Deep global recession might trigger changes in expending from imported items to domestically manufactured items. What are at least two policies that governments might implement to increase expending on domestic items.
Choose a United States multinational firm. In terms of currency denomination, discuss how the company values its revenues and costs.
Is the main outcome of economics (high standard of living) the only relevant question in the realm of economic analysis? Do you agree? Is quality of life also significant?
Describe and discuss the model of perfect competition and adopting strategies to gain market power in the competitive industries.
Julia must select between two different designs for preventing closure, which will be in use indefinitely. Model 1st has a life of 3-years and cost of $8000, and maintenance of $1000 every year.
Find out the total revenue (TR) and total profits in terms of Q. At what level of output (Q) are total profits maximized? What price will be charged? What are total profits at this output level?
Compare the path of economic growth using GDP, GDP growth, and GDP per capita. Compare the evolution of Agriculture and Manufacture as components of GDP.
The general demand function for a good, Good A, is: Is Good A a normal good or an inferior good? How do we know exactly?
Explain the law of diminishing returns in your own words. This idea can be applied to other concepts in economics. Think about your own utility from consumption. Give a personal example of diminishing utility.
Compute the equilibrium price and quantity. Describe why the output and price levels are different for X1 and X2. Explain what occurs to consumer surplus, producer surplus, and deadweight loss.
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