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Q1. A purely competitive firm finds to the market price for its product is $20. It has a fixed cost of $100 also a variable cost of $10 per unit for the first 50 units also then $25 per unit for all successive units.
Q2. That of the following would mostly likely cause the Demand for miller beer to reduce?
Q3. Assume the Demand function is given by Qxd = 8Px(to the .5), Py(to the .5), M(to the .12) H. Then the Demand for good X is: Elucidate how calculations to elucidate
Compute most favorable output also profit for each firm and the market price. Also, compute the resulting profit of cartel.
A business cycle fact is that real wages are pro-cyclical. Using the classical labour market as we have all semester, show and explain how the classical economists explained this business cycle fact.
Is the price mechanism of a perfectly competitive market a good mechanism to allocate gasoline.
Consider the first price auction. Write down the payoff matrix also find all Nash equilibrium
Do these public goods conform to the law of demand. For which public supplies is demand price elastic.
Lean Burger's drive through receives 20 customers in every ten minutes of business time.
Illustrate what happens to the value of the owners' equity in this bank. Elucidate how large a decline in the value of bank assets would it take to reduce this bank's capital to zero.
A pharmaceutical firm faces monthly demands in the U.S. and Mexican markets for one of its patented drugs.
Free zone would happen if the central bank lowered the federal funds rate and buy securities on the open market.
Explain how does the existence of money reduce the costs of making transactions relative to a society based entirely on barter.
Assume that the firms act independently as in the Cournot model i.e., each firm assumes that the other firm's output will not change.
The overall effectiveness of the organ procurement system in the United States. What are its strengths and weaknesses.
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