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"No firm is completely sheltered from rivals; all firms compete for the consumer dollars. If that is so, then pure monopoly does not exist." Do you agree? Explain. How might you use Chapter 6's concept of cross elasticity of demand to judge whether monopoly exists?
Alinsky, Rules for Radicals, pp. Oct. Models of Power CASE: What a Star-What a Jerk (Classpak #1). Case questions: - What, if anything, is Andys problem? - What, if anything, should Jane do about Andy?
assume that the yearly capital cost is 10% of the total investment. Elucidate at what production quantity ?these two investment are opportunities.
Suppose that a firm’s marginal production costs are given by MC = 10 + 3Q. The firm’s production process generates a toxic waste, which imposes an increasingly large cost on the residents of the town where it operates: What is the marginal private co..
Suppose the production function for T-shirts can be represented as q = L^0.25 K^0.75. When K = 1 and q = 2, what is the slope of the isoquant? If there is insufficient information to answer the question, describe what information is additionally need..
In a perfectly competitive factor market, a firm faces a(n):
For promotion to lieutenant, police officers in a city police department first have to pass a written aptitude test. This requirement was challenged in court by several black officers on the grounds that the test unfairly discriminated against blacks..
Rather than the short run effects of decreasing government spending, allow a self correcting economy to bring the model back to equilibrium, the government decides to act to eliminate the output gap through monetary policy. Explain how the government..
suppose that a farmer has two very different 100-acre plots of land. suited for growing rice than corn one is very wet
Graph the supply and demand curves. Please identify the x and y axis properly, the Price and quantity intercepts and equilibriumraph the supply and demand curves. Please identify the x and y axis properly, the Price and quantity intercepts and equili..
Illustrate what policies do governments adopt to redistribute income and how do those policies help the country's economic growth.
A kinked demand curve is most likely to occur when other firms. The difference between the price firms would be willing to accept for their goods and the price they actually receive is called. Under conditions of perfect competition, maximum profit o..
Illustrate what are the levels of income per worker also consumption per worker. Show how capital stock per worker will evolve over time in both countries.
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