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The main characteristic that distinguishes monopolistic competition from perfect competition is:
a. that in perfect competition a firm maximizes its profits when MR=MC, while in monopolistic competition MR < MC.
b. many firms.
c. easy entry and exit.
d. differentiated products.
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You are considering two alternative plant layouts, A1 and A2, to improve its current layout. The cash flows are shown below. The first costs represent the expenses of rearranging the current layout to the alternative new layout and the annual savings..
President Lyndon Johnson was more successful than President Kennedy in getting Congress to pass civil rights and economic improvement bills because
An airplane takes off from Montreal on Friday morning at 7:30am heading to Los Angeles, California with 117 passengers and 7 crew members aboard the plane. The plane is traveling 430 mph. California is 2000 miles away. It has 86 passengers on board t..
One strategy I might use to be elected mayor of a university town is to place a binding price ceiling on rent for student apartments. What will happen if I get elected and am able to pass such a law?
Using the rule of 70, if a person lived to be 70 years old in a country with an average annual growth rate in real GDP per capita of 2 percent, the average income during this person's lifetime would increase by approximate
Describe the magnitude of crowding-out that results from the above fiscal expansion .Show the transition dynamics that results.
Show how each of the following would initially affect a bank's assets and liabilities.
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You have just been appointed the new Economic Advisor to the U.S. Government and have been asked to develop an economic series of projections for the U.S. domestic economy for the next year. Outline your new forecast based on current developments. Al..
What factors surrounding behavioral health create special challenges and special considerations for managed care programs? How is managed behavioral healthcare different from managed acute medical or managed acute surgical care?
The classic example of opportunity cost is the costs of going to college. Illustrate the implicit opportunity cost of foregone income as well as tuition, books, etc. Think about whether room and board should be considered a cost of college. Calculate..
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