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1) What conditions exist when economic profits are maximized? What is the difference between economic and accounting profits? What are economic profit-maximizing strategies that may be made by a perfectly competitive firm, a monopolist firm, and a monopolistic competitive firm? Provide examples and explain the strategies' effectiveness in their respective market structures. 2) What are some real-life examples of monopolistically competitive, oligopoly, and monopoly markets? How do market prices differ between perfectly and imperfectly competitive markets? Will a monopoly always produce at a profit-maximizing output level? Explain your answer.
Why does Vellus export through local distributors rather than set up its own sales force in country? What are the risks associated with using local distributors? How can these risks be reduced?
Suppose that the large firm sets the market price at some level P. Each supplier acts competitively (i.e., sets output to maximize profit, given P). What is the supply curve of the typical supplier? Of the industry?
The government wants to decrease the consumption of electricity by 10 percent. The price elasticity of demand for electricity is -0.4.
Graph and describe what effects would be short run production function if a new advanced process was found and how would the number of employees hired change?
If a company manufactures records and its cost equation for a week is C = 300 + 1.5x and its revenue equation is R = 2x, where x is the number of records sold in a week, how many records must be sold for the company to realize a profit?
Current SWOT ANALYSIS for Wal-Mart Provide a current overview of the company's Strengths, Weaknesses, Opportunities, and Threats. Please note that Strengths and Weakness are internal, Threats are external, and Opportunities tend to be a combination o..
How does price elasticity of demand affect how much of a tax is passed on to the consumer and how much is absorbed by the seller. Show the effect with graphs.
The market for corn is currently in market equilibrium. Graph this situation. On your graph show what happens to the quantity of corn and the price in the market as the use of ethanol fuels becomes more widespread at the same time that a drought d..
you have a free ticket to see lady gaga in concert this ticket having no resale value. pink is performing on the same
Suppose the government cuts its purchases through $120 billion. As a result, budget deficit is decreased by $40 billion, private domestic saving reduced by $10 billion,
write a three to four 3-4 page paper that addresses the questions below.debate whether or not economics apply to health
The total marginal cost functions of a competitive firm are tv+1800+2q^2 and mc=4q, where tv and mc are total cost respectively, and q is the firms total output. There are currently 100 identical firms. The demand function is p=180-.02q. P is price, ..
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