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Long-run equilibrium for a monopolistically competitive firm where economic profits are zero results from:
A) Rising marginal costs.
B) A perfectly elastic product demand curve.
3) Relatively easy entry.
1. if an economist says the higher the price of oranges the fewer oranges individuals will buy ceteris paribus this
calculating net asset value. given the information below calculate the net asset value for the boston equity mutual
There is significant disagreement whether a dependable positive correlation (relationship) exists between incentive pay and individual employee productivity. Question is what causes you to come down on one side or the other on this issue?
Demand and supply schedules
Find an expression for average costs (AC) and average variable costs (AVC). Graph them together with marginal costs and find the firm's short run supply curve. Is the whole curve relevant to the long run?
A firm has a cost function given by the following: Find the firm's production function, y= f(x1, x2).
Describe why marginal analysis must be used in decision making with examples. Also, give examples of poor decision-making when sunk costs were used to justify choices, and discuss how legal and ethical issues may play a role in making decisions.
(1)Compute the optimal prices, and the Lerner index and inverseelasticity of demand for each good. (2)Now suppose the goods are produced by two firms that chooseprices simultaneously. Compute the Nash equilibrium and compare
1. the amount of compensation associated with the income effect of a price change is calleda. a compensation variation
Let us assume you and ten of your friends are going to open and invest in a business. You do not want to pay double taxation on the profits. You want a type of ownership where profits must be distributed based on how much each person has invested ..
Explain why supply is more elastic in the long run and explain what causes economies of scale. Can economies of scale and diminishing marginal returns apply to the same firm? Explain.
suppose disneyland is considering how to price entry into their theme park. theyve decided that in addition to charging
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