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Explain how each of the following will affect the demand for computers:
(i) a rise in incomes,
(ii) an expected drop in the price of computers,
(iii) a drop in the price of software,
(iv) computers becoming simpler to operate,
(v) a drop in the price of tablets.
Explain any assumptions that you have to make to give your answer.
Using the firms marginal cost curve, compute the profit-maximization long-run supply curve for typical retailer. Compute the average total cost curve for the typical gasoline retailer, and determine that average total cost are less than price at the..
Identify the fallacy in the following discussion: "The effect of an excise tax on a commodity might seem at 1st sight to increase the value that buyer pay.
What is the profit-maximizing price of carpets? What is the maximum amount of profit that the firm can earn selling carpets?
Compute the Average cost, Marginal cost, Average Variable Cost and the output level at which Average Variable Cost is at a minimum.
You're the marketing manager of a firm that produces Titanium and sells this metal to two distinct kinds of customers: aircraft producers and golf club manufacturers.
What is an "oligopoly" and why do they exist? Mention three or four oligopolies whose products you own or regularly purchase.
Formerly, market for air travel in Europe was highly regulated. Entry of new airlines was severely restricted, and air fares were set by regulation.
You manage the plant the mass produces engines by teams of workers using assembly machines. The technology is summarized by production: Find out the short run production function? Find out the total cost function for your plant to produce q engines ..
A printer's wage rate is $20, and the price of a printing press is $5,000. The last printer added 20 books to total output, while the last press added 1,000 books to total output.
Determine how does globalization lead to greater competition in market place? Discuss the implications for market structure in industries opened to global competition?
Evaluate the impact of the proposal to cut prices on total revenue, totalcost, and total profits - Price and Output Determination:Monopoly and Dominant Firms
Explain the effects of the new factory on the items below. Then place the number of each item on the circular-flow diagram to show whether the activity takes place in the product market or resource market
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