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In perfect competition, economic profit is driven to zero as more firms join the market bidding prices down. One way for firms to maintain positive economic profit is to sell differentiated products. What sort of characteristics might a company emphasize in an attempt to differentiate its branded products?
Illustrate what changes in the Ants' resources do we see through the film. Are the Grasshoppers commercial talent and they are just annoying.
Suppose that each worker in the Foreign country can produce two cars or three TVs. Assume that Foreign also has four workers. Graph the production possibilities frontier for the foreign country. What is the no-trade relative price of cars in Foreign?
Cooperation among oligopolies runs counter to the public interest because it leads to underproduction and high prices. In an effort to bring resource allocation closer to the social optimum, public officials attempt to force oligopolies to compete in..
Discuss why it is important to evaluate processes within an organization using flowcharting and performance metrics.
Marcella operates a small, but very successful art gallery. All but one of the following can be classified as a variable cost arising from the physical inputs Marcella required to operate her business.
Cost is a big issue with every company, and changing technology is the biggest cost for most companies, how your company was able to cope with this problem and maintain the level of profit in a very competitive market?
In the city of Growville, the equilibrium employment is 100,000 workers, and the equilibrium wage is $80 per day. The elasticity of demand for labor is 1.0 (in absolute value) and the elasticity of supply of labor is 4.0. The employment multiplier is..
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 and what is the long-run total cost function when r = 4 and w = 36
Which of the following is NOT a characteristic of equal potential GDP and real GDP?
A sum of $16,000per year will be received uniformly over a five-year period beginning two years from today. What is the present value of this deferred- funds flow if interested is compounded continuously at a normal rate of 9%.
The cost curves of the firm. In terms of economies of scale, why would a firm sometimes want to expand output and sometimes not want to expand output.
Which is the largest component of expenditure in a three sector model? Which component of aggregate expenditure is more volatile? Explain why?
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