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Market structure has implications for a firm's profitability. Which of the following statements is true? a. a competitive firm maximizes profits by producing at the quantity where marginal revenue equals marginal cost b. a monopolistic firm since it faces a downward sloping demand curve can earn positive economic profits in the long run c. because it possesses significant market power, an oligopoly firm will always earn positive economic profits in the long run d. a monopolist maximizes profit by producing at the quantity where marginal revenue equals marginal cost, but a competitive firm being a price taker, must maximize revenue
Suppose that the production function for floppy disks is given by Q = KL2 L3 where Q is the number of disks produced per year, K is machine-hours of capital, and L is man-hours of labor flow of capital service. a) Suppose K=600. Find the total produc..
Can we conclude that an individual participating in the program would be worse off if provided with a cash grant of $50 instead of the viagra?
How would you expect the following to affect the economy wide demand for money? The demand for money represents the desire of households and businesses to hold assets in a form that can be easily exchanged for goods and services.
Discuss the positive aspects of globalization, and contrast these with the negative aspects of globalization from the perspective of a small business. Be sure to address the pros and cons of outsourcing in your response.
Let’s say the current administration decides to make a college education more affordable, so they establish a price ceiling of $50 per credit hour for community colleges, $75 per credit hour for four year institutions, and $100 per credit hour for gr..
Assess the importance of policy analysis during the development and implementation stages of public policy. Discuss the social impact of policies. Discuss the limitations policies have on government power.
The problem of double coincidence of wants is associated with:
A change in which of the following is least likely to cause a shift of the consumption function?
The City of Arlington Texas spent approximately $325 million on the new Dallas Cowboys stadium which opened in 2009. The city financed the expenditure with special-purpose bonds anticipated to cost approximately $21 million per year to service. What ..
With respect to recent Federal Government Fiscal Stimulus packages and Federal Reserve policies to control liquidity and counter the credit crisis, what has the Federal Government and the Federal Reserve been doing?
Do an economic analysis of two giant competitor brands, Coke and Pepsi, in the context of them being rivals in the "Twenty-First Century" and use all the knowledge you have gathered over the last several weeks. Please do not make it a financial case...
Some lenders charge an up-front fee on a loan, which is subtracted from what the borrower receives. This is typically described as "points" (where one point equals 1% of the loan amount). The federal government requires that this be accounted for in ..
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