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Select an industry or firm and state what is the market structure (pure competition, or monopoly, or monopolistic, or oligopoly).Define the characteristics of the industry or firm to support your selection of a market structure. Describe or illustrate graphically the firm's profit maximizing behavior in particular MR=MC under the above mentioned market structures or conditions.
Find the demand for L and R. (Hint: Use your result from part 3 and the budget constraint.) Now assume that the price of right shoes increases. What will be the substitu- tion eect from this price change? Explain.
Anation's consumption function (expressed in millions of inflation- adjusted dollars)is: C=200+.80*DI. what is value of autonomous saving.
Find the equilibrium price and quantity. Find the consumer and producer surplus at the equilibrium. Find the socially optimal level of output of paper. How can a corrective tax bring about this equilibrium? How much revenue would the corrective tax r..
According to a study of US cigarette sales between 1955 and 1985, when the price of cigarettes was 1% higher, consumption would be 0.4% lower in the short run and 0.75% lower in the long run (Becker et al., 1994).
Find out the purchase price to gain thirteen percent compounded semiannually.
q1. cross-price elasticity. b.b. lean is a catalog retailer of a wide variety of sporting goods and recreational
What is the expected impact of fall the business confidence. Explain with suitable diagram. Will monetary policy help to increase the investment by private sector in the presence of fall in the business policy.
The craft unions electricians, carpenters, other possess considerable power to raise wages than do industrial unions automotive workers, steel workers.
Would this have been the result of a change in Demand? If so, why; if not, why not? If not, what was the probable reason?
Calculate the price elasticities of demand in each market and discuss these in relation to the prices to be charged in each market.
q1. explain what does the axiom of strict convexity of involve about preferences? also clarify in words as well as
Use the AD/AS model to explain and show the current economic situation. Then suggest a fiscal approach to solve the current economic situation without adding any more debt. The current MPC = .80.
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