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1) Suppose that firms in the short-run are earning above-normal profits. Describe what will take place to these profits in long-run for the following markets:
i) Pure monopoly
ii) Oligopoly
iii) Monopolistic competition
iv) Perfect competition
Prepare a 700-1,400-word paper explaining a company that has made the strategic decision based upon productivity, wages and benefits, and other fixed and variable costs. Examine the decision and its expected outcomes.
XYZ Corporation faces a horizontal demand curve and the market price is given to be $15. Compute the shutdown price of operations for Corporation XYZ.
Compute output, marginal cost, average cost, price, and profit at the average cost-minimizing activity level. Compute these values at the profit-maximizing activity level.
Current economic theory and their application or lack of application to contemporary economic problems
Consider an electricity market with a daytime (peak-period) inverse demand of P=160-Q, and a nighttime (off-peak) inverse demand P=80-Q, where P is the price of electricity and Q is units of electricity.
Using the principles of supply and demand, develop a plan to alleviate the shortage of Math and Science teachers within this country. Try to use price and non-price determinants as your tools to reach equilibrium.
Employ the following data for the pure monopoly to compute the firm's: (a) total revenue, marginal revenue, marginal costs, and average total cost
Assume that the demand and supply functions for good X are as follows: What is the equilibrium price and equilibrium quantity?
A Firm has total cost function given by following: What is the Total fixed cost when Q = 100? And Average fixed Cost when Q=100?
Why does rent control result in a shortage of rental units.
Given a uniform rate of interest of 9% and a uniform life of the projects of 10 years each, calculate the NPVs of each Project. Should we choose Projects A, C, D or Projects A, B, D. Describe
Sunrise Surf Shop is willing to produce 30 surfboards in the month if it can sell each board for $300. If it can receive $500 for each board, the shop is willing to manufacture 70 surfboards.
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