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The issue of competition over time presents a number of problems for a firm. Based on research for this question and personal experience, what do you believe is the most effective way a firm can compete over time? Your answer should address some of the biggest problems of long-term competition, possible ways firms can compete, and your choice and discussion of the most effective way a firm can be competitive over time.
Suppose that an individual's demand for the number of physician visits per year, Q, can be represented by the following equation: Q=5-0.40P, where P, the market price of an office visit, equals the marginal cost of $100. Determine the efficient numbe..
Before entry, an incumbent earns a monopoly profit of Pm = 10 million. If entry occurs, the incumbent and an entrant each earn the duopoly profits Pd = 3 million. Suppose the incumbent can induce the government to require all firms to install polluti..
Provide an interpretation for the budget constraint. Explain what the slope of the budget constraint is. Explain what sign cant about the point of tangency is between highest in difference curve and the budget constraint. At this point of tangency, w..
trace the evolution of work on the laissez-faire doctrine through two arcs. first those theorists who are trying to
If the money wage rises, all else equal, economists would expect
What is the new equilibrium price and output in the short run for both the industry and each firm.
A local landfill currently charges $100 per half ton load of waste to dump. The marginal costs to the landfill of operating the dump are about $60 per half ton load of waste. Assuming the landfill pricing is dynamically efficient, what is the MUC of ..
What curve would be shifted (demand or supply) and in what direction (left or right) if there was a decrease in the tax rate or interest income from 20% to 15%?
Suppose your firm produces according to a function in which capital and labor are perfect compliments. The wage rate is currently $120 per day and the daily capital cost is $100. If the wage rate falls to $100, does the substitution effect dominate t..
Identify the point on the budget constraint this worker has chosen. Explain how much is he working per day.
You recently hired an economist to work with engineering also operations experts to estimate the production function for a particular line of office chairs.
Referring to the 10-year historical period 1980-1990 discuss an example of a change in autonomous spending. Research a government policy implemented during that time and discuss the multiplier effect it had on the economy.
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