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Suppose that another firm can enter this market by importing toys. Because of trade barriers the new firm's costs are somewhat high and its total cost function can be expressed as the following: CE(QE) = 20QE + 0.05QE. Now if the incumbent firms is committed to the monopoly output, what id is the effective demand curve faced by the new firm? How much does it choose to sell when it enters the market? What is the resultant market price? How much does each of the two firms earn in profits?
Draw a graph of the Batman family's supply of loanable funds curve fro 1999. Show the influence of this change on the Batman's supply of loanable funds curve.
An industry consists of three firms with identical costs C (q)18q +q2. What is the industry equilibrium (price, output and profits) if the firms have Cournot beliefs?
What does Friedman believe about expansionary monetary policy? Do you think Keynesian economists would agree?.
A firm uses a single plant with costs C = 160 + 16Q + .1Q 2 and faces the price equation-Find the firms profit maximizing price and quantity. What is its profit?
The average weekly earnings of bus drivers in a city are $950 with a standard deviation of $45. Assume that we select a random sample of 81 bus drivers.
There are many factors might change AD and AS, and equilibrium. Please evaluate the effect of following scenario on the AD curve, AS curve, and accordingly the effect on equilibrium price level and equilibrium GDP/output.
Explain what happens to the nation's aggregate supply curve, the short-run equilibrium level of output, and the price level if:
Suppose you're an economic advisor in charge of trying to raise a maximum level of tax revenue for the government. You consider taxing the suppliers in the market for corn, a major agricultural product in the United States.
Dr Leona Williams a well know Plastic Surgeon, has reputation for being one of best surgeons for reconstructive nose surgery. Dr Williams enjoys a rather substantial degree of market power in this market. She has estimated demand for her work to b..
Compute the income elasticity of demand for product below, by using average values for quantities and incomes.
Assume that the soft coal industry is a competitive industry and it is in long run equilibrium. Now assume that the firms in the industry form a cartel.
Suppose that natural real GDP is constant. For every 1 percent increase in the rate of inflation above its expected level, firms are willing to increase real GDP by 2 percent.
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