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Consider a Cournot oligopoly consisting of four identical firms producing good X. If the firms produce good X at a marginal cost of $7 per unit and the market elasticity of demand is −2, determine the profit-maximizing price.
a. $6 per unit
b. $8 per unit
c. $10 per unit
d. $12 per unit
Use a demand-and-supply model to explain the impact of occupational segregation or “crowding” on the relative wage rates and earnings of men and women. Who gains and who loses from the elimination of occupational segregation? Is there a net gain or a..
The First National Bank has reserves of $150,000 and demand deposits equal to $1,200,000. The reserve ratio is 10 percent. How much in excess reserves does the bank now have? What is the maximum amount the bank could currently lend out? Show all work..
The blood bank wants to determine the least expensive way to transport available blood donations from Pittsburgh and Staunton to hospitals in Charleston, Roanoke, Richmond, Norfolk, and Suffolk. The supply and demand for donated blood is shown in Fig..
Suppose the Tooth Fairy paid 50 cents for a tooth in 1970. The CPI in 1970 was 38.8, while the CPI in 2010 was 218.1. What is the value of the Tooth Fairy’s payment in 2010 dollars?
Which of the following will improve your salary bargaining position: In the sequential labor negotiation game:
Recent monetary policy of the United States-Which of the following are factors that contributed to the crisis of 2008? Check all that apply.
Economists assume that firms seek to
Illustrate what most such asly cause the production possibility curve for vcrs also food to shift outward.
The individual demand for a slice of pizza at Sam’s Pizza is given by QD = 6 – P. Assume the marginal cost of a slice is constant at $1 and the marginal revenue function is 6- 2Q. What is the profit-maximizing price and quantity if Sam’s sells all pi..
Supposes a perfectly competitive, increasing-cost industry is initially in long-run equilibrium and demand suddenly increases. Explain how demand change affects price and quantity and who benefits from increased demand.
A friend wants your advice. His aunt recently left him $100,000 that he must invest in one or both of two different corporations. The current price per share of each is $100. If your friend buys 1000 shares of the first corporation, what will be the ..
q1. assume demand take the form q 36p-1.a. show that the price elasticity of demand is constant and equal to -1.b.
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