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For each of the following, is the business a price-taking producer? Explain your answers.
a. A cappuccino café in a university town where there are dozens of very similar cappuccino cafés
b. The makers of Pepsi-Cola
c. One of many sellers of zucchini at a local farmers’ market
Determine which system, socialist or capitalist, feudalism or mercantilism, works better? Explain your reasoning? Also, which type of business gives the owner highest protection or the most incentive to succeed?
How much would Wyandotte have to reduce the price of polyol to achieve a 15 percent increase in the quantity sold? Evaluate the impact of such a price cut on(i) total revenue, (ii)total costs, and (iii)total profits.
Calculate consumer surplus in the case of entry deterrence and in the case of entry accommodation. Which situation leads to the largest consumer surplus?
Explain and show graphically how this market would be affected if there is an increase in the number of dairy farmers that produce hormone free milk and at the same time south african consumers chose to be more healthy?
Guthrie Enterprises needs someone to supply it with 230,000 cartons of machine screws per year to support its manufacturing needs over the next five years, and you've decided to bid on the contract.
Do workers of monopolies get paid more compared to employees who do the similar work in other industries that are not monopolies?
What is a government budget deficit How does a federal budget deficit affect the economy Howdoes it affect the level of investment and interest rates How doesit affect the individual consumer
a. Draw a diagram showing Sparkle's demand curve, marginal-revenue curve, average-total-cost curve, and marginal-cost curve. Label Sparkle's profit-maximizing output and price. b. What is Sparkle's profit.
Assuming other things equal and capital and labor are fixed in quantity and using our aggregate production function and factor market diagrams, illustrate what happens to output, the real retal rate on capital, and the real wage of labor following..
Investment rejects some of the furnishings because they do not match the plans, and subsequently refuses to allow Justus to finish the work or to col¬lect payment. Could Justus sue successfully for payment for the entire contract.
Calculate the number of days it would take for the vendor to no longer need to borrow money in order to purchase $10 of vegetables and the day number on which no loan is needed?
Find out the optimal price and quantity with standard pricing. Which is the per-customer profit for the gym? What is the consumer surplus?
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