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State whether the following characteristics represent monopolistic competition, oligopoly, or both.
a. Many sellers
b. Mutually interdependent decisions
c. Multiple dimensions to competition
d. Differentiated products
e. Few sellers
f. Easy long-run entry and exit
During April, the production department of a process manufacturing system completed a number of units of a product and transferred them to finished goods.
Suppose which in the 1990s, the average retail price of a roll of Kodak film was $6.95 also which Kodak's marginal cost was $3.475 per roll.
Assume that Roscoe's Rascals decided to add the pet food line. A copy company wants to expand construction.
The original Cobb-Douglas function was given as Q = aLbLl-b. It was subsequently rewritten as Q = aLb1Kb2.
Elucidate how the law of diminishing returns influences the shapes of the variable-cost and total-cost curves.
Explain your answer what would happen to the value of gold if public discovered that it could simply be made at home from inexpensive materials.
Illustrate what cost as well as quantity will result once the patent expires and competition emerges in this market.
Why anyone would pay a positive price for a CBOT or NYSE seat and what this price represents. Second, explain why the seat values have changed so much in recent months.
Illustrate what are the optimal prices for each product if you sell these products separately. What are your firm's profits. Explain.
Illustrate what would be the size of the resulting deadweight loss relative to the competitive outcome.
Are unions good or bad for economy. How do unions at GM and Ford affect employment levels and wages How do unions affect or industries in terms of employment and wage levels.
Use supply and demand analysis to explain price reduction of computers. What effect did price reduction have on quantity of computers demanded.
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