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Monopolistic competition is similar to perfect competition because:
A. both industry structures have a single seller.
B. in both industry structures, long-run profits are likely to be positive.
C. in both industry structures, the firm's demand curve is horizontal.
D. in both industry structures, there are no barriers to entry.
Presume the own price elasticity of market demand for retail gasoline is -0.9, the Rothschild index is 0.6, and a typical gasoline retailer enjoys sales of $1,450,000 annually. What is the price elasticity of demand for a representative gasoline reta..
1. in a market system well-defined property rights are important because theyreduce unnecessary investment. limit
An increase in the price of an input leads to higher costs and therefore less profit at the original quantity produced; therefore, some firms will increase the quantity they produce in order to increase revenues.
indifference theory can explain all rational choices and behavior.try the theoryout on this situation. suppose the only
write 400-600 words that respond to the following questions with your thoughts ideas and comments.conduct research
A newspaper wants to test if the average rent paid by students has increased from last year's average of $430 per bedroom. A random sample of 36 off campus students gives a mean of $457 with a standard deviation of $63.
Presume that both Country A and Country B have the same production function: Y/L = 6*(K/L)0.5. But, Country A has a capital-to-labor ratio that is initially twice as big as Country B. In addition, Country A has a 10% saving rate, a 10% labor force gr..
Py =4 and Uo is the maximal level utility when Px =5, Py =4 and I =100. find the the compensated demand curve (or of Hicks) and draw it on the same graph. for what value of Px the two curves will cut? what is the elasticity of compensated demand w..
select an issue opportunity or problem facing your organization.write a 700- to 1050-wordpaper that addresses the
suppose that gunk is a pollution by-product of manufacturing computer processors. environmental activists propose
What is the present worth of a two-part legal settlement if the interest rate is 4 percent? $100,000 is received at the end of year 1, and $400,000 at the end of year 5?
1. Why is it necessary to understand the concept of present value to analyze the schooling decision 2. Provide an intuitive explanation of the concept of present value.
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