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Describe the impact of the recent economic crisis in the U.S. on the automobile industry, with special reference to the operating costs and auto sales in the industry.
Discuss how Internet security measures can actually create opportunities for criminals to steal, rather than prevent them.
Write down the some real-life examples of monopolistically competitive, oligopoly, and monopoly markets.
Assume a monopolist faces the following demand curve: P = 180 - 4Q. Marginal cost of production is stable and equal to $20, and there're no fixed costs. What is the monopolist's profit maximizing level of output?
What assumptions about the rival's response to price changes underlie the kinked-demand curve for oligopolists? Why is there the gap in the oligopolist's marginal-revenue curve? How does the kinked-demand curve describe price rigidity in oligopoly..
Determine whether the firm is operating efficiently, given that its objective is to minimize the cost of producing the given level of output. Determine what changes (if any) in the relative proportions of labor and raw materials need to be made to..
Describe benefit and cost externalities. List the reasons for lack of optimal allocation of resources in each case. Explain the need for government intervention in case of market failure due to externalities. Explain why government intervention may n..
What happens to the student's budget line? Illustrate the change with new books on the vertical axis. Is the student worse off or better off after the price change. Explain.
Assume the price of beans rises from $1.00 a pound to $2.00 a pound, quantity demanded falls from 10 units to 6 units. In this example, the demand for beans is said to be ______
Suppose XYZ can sell up to 40 units of output per hour at a price of $.60 per unit but cannot even get a penny for units produced in excess of 40 units per hour. How much output should XYZ produce each hour in order to maximize profits?
Lawn mowing services are supplied by host of individuals in suburb of Westbrook. Demand and supply conditions in the perfectly competitive domestic for lawn mowing services are:
Read the rules of the game, the overview and the almanac for the Development Game "Settlers of Catan"
Future economic glowth
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