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Those who use it to make ethanol and those who use it as animal food. Suppose the elasticity of demand differs between these two groups. Is a perfectly competitive corn farmer able to price discriminate? Why or why not?
Some economists suggest that the increase in e-commerce within the business-to-business (B2B) market will lead to greater competition and more goods and services becoming commodities, meaning they will compete solely on price. How do you think thi..
What is the expected return of migrating to the city? Show your work. Determine whether the individual should migrate to the city or not. Show the criteria used in making his decision.
Describe each country's reaction function. Does a Cournot equilibrium exist? If so, find the outputs and prices of crude oil in the two countries.
Suppose the production function for oranges is Q = k^1/3 L^1/3. Suppose the production function for pasta is Q = 4kl. What is the long-run optimal input combination when Q = 16 , r = 4, and w = 36 ? Does this cost function have increasing or decreasi..
Suppose that on January 1, 2020, the population of a country is 100 million. During 2020, there are 1 million births and 500,000 deaths. In addition, 2 million people immigrate to the country while 500,000 emigrate. What is the population on January ..
When the marginal-cost curve lies below the marginal-revenue curve. Assume that for a perfectly competitive firm marginal revenue equals rising marginal cost at 100 units of output. At this output level, the firm's total fixed cost is $600 and its to..
Elucidate in writing to what market your derivation brings equilibrium and how it accomplishes this. What are the principal differences between flexible and fixed exchange systems.
In 2013, the furniture store PB produced 13 mahogany desks. One of them is sold to Jeanine for $3,349, later that same year Jeanine sold the desk to Pamela for $1,919. The remaining desks were not sold to anyone that year and stay in PB's inventory a..
A large, well-established home insurance company writes insurance policies to cover losses from fire, theft, and vandalism. In a recent financial review, managers discovered that company performance was lagging behind projections. Do the actuaries ha..
Some theories have a zero-sum perspective of political stakes, while others believe stakes are non-zero-sum. __________ agree with respect to the nature of political stakes in the world
A industry is currently operating where the MC of the last unit produced = $84, and the MR of this unit = $70. What would you advise this firm to do.
q1. explain and show graphically the effect on the supply and demand for bonds in a deflationary period. what is the
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