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Q1. Mention three businesses that you are familiar with or that you have dealt with recently. Choose on which market structure that these businesses fit - monopolistic competition, perfect competition, and oligopoly also monopoly. What characteristics were most important in making your decision about the market structure of the business
Q2. A firm employs a production function Q = F (K, L) for which only two values of K are possible, K1 and K2. Its ATC curve when K = K1 is given by ATC1 = Q2-4Q+6. The corresponding curve for K = K2 is ATC2 = Q2-8Q+18. What is this firm's LAC curve?
the set of efficient trades these individuals would rationally make. One of the points on the set of efficient trades you illustrated in your diagram will be a competitive equilibrium.
Is there a formula or vice versa a 50% markup on cost is equivalent to a markup on price of what. An answer of 50% for both just seems too easy.
hire many more employee than were available on the island. As a result, prices for goods and services rose dramatically across the board.
What is the cost function associated with producing y units of output? Assume now that input prices are (w1,w2). What is the cost function associated with producing y units of output?
Does a lump sum tax cause the after tax consumption schedule to be flatter than the before tax consumption schedule.
q.the us government could not pass its annual budget. as a result the us government has partially shut-down roughly
In addition categorize the level of elasticity of a product or service of your choice from real life depends on what you know happens to the percentage change in quantity demand when the price changes.
Elucidate why is productivity related to the standard of living. In your answer be sure to explain what productivity and standard of living mean. Make a list of things that determine labor productivity.
What must happen to induce foreign residents to buy the bonds? If foreign residents desire to purchase the bonds, what is the most important source of dollars to buy them?
Adding four or more flights to existing routes, it will have to add two pilots also flight attendants.
The marginal damage to your neighbor's business is a function of how many alligators you keep and the amount of money spent on a fence that separates your properties:
Demand for good X has been estimated at Qxd = 12-3Px+4Py. Suppose that good X sells at $2 per unit and good Y sells at $1 per unit. Calculate the own price elasticity.
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