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b. What is true about the relationship between marginal revenue and marginal costs when profit is the greatest?2. Explain how each of the following is a form of price discrimination:a. a student discount at the movie theater b. long-distance phone service that costs 15 cents per minute for the first 10 minutes and 5 cents per minute after 10 minutesc. a senior citizen breakfast discount at a local restaurantd. coupon discounts on laundry detergent 3.List three ways in which a grocery store might differentiate itself from its competitors. 4.Explain how the joint profit-maximizing price of colluding firms under oligopoly is determined? How about output?
The minimum acceptable price for a product that producer Sam is willing to receive is $15. It is $12 for producer Sue. The market price they could get for the product is $18. What is the amount of the producer surplus for Sam and Sue combined
On Sunday October 23rd, Eastern Turkey was hit by a strong earthquake. Analyze the effects of this temporary negative supply shock on the real output and real interest rates using an IS-LM model. b. Show the effect of this negative supply shock.
The Zinger Company manufactures and sells a line of sewing machines. Demand per period (Q) for a particular model is given by the following relationship: Q = 400 - .5P
How would a change in the nominal exchange rate affect competitiveness in the short run when prices are sticky and business executives and policymakers are often concerned about the competitiveness of American industry
The demand for personal computers can be characterized by following point elasticity = -5, cross-price elasticity with software = -4, and income elasticity = 2.5. Indicate whether each of following statements is true or false, and describe your an..
Estimate the linear model described in part (a) using Ordinary Least Squares regression and display your regression results.
Provide two examples of actions taken by a company, government, or organization whose effect is to prevent specific markets from reaching equilibrium. What evidence of excess supply or excess demand can you cite in these examples?
Suppose you manage a United States based firm that makes shoe laces that you sell in a highly competitive market your shoe laces are considered a standardized commodity through your consumers
Determine price and the level of service if competitive bidding results in a perfectly competitive price/output combination. Determine price and the level of service if the car lot grants a monopoly franchise.
The "crowding-out effect" suggests that A. excessive population in the cities is pushing people into the suburbs.B. if consumption spending increases investment spending must decrease. C. tax increases are paid primarily out of saving and, therefore,..
Discuss how to use Coase theory to see mandated mercury emissions and what do you think Coase would say to a supporter of free market environmentalism.
How a competitive market arrives at equilibrium and why the price of tomatoes has risen - Discuss the factors that affect the price elasticity of demand as they apply to tomatoes and make a suggestion based on your appraisal as to the likely price..
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