Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Suppose you are hired to manage a small manufacturing facility that produces Widgets.
(Part A) You know that you are operating in a monopolistically competitive market, that is, you are a small part of a large market with many competitors in this market. From data collected on the Widget Market, you know that market demand has recently increased and market supply has recently decreased. Name two shift factors and determinants that could have caused the market demand to increase and two shift factors and determinants that could have caused the market supply to decrease. Also as manager of the facility, what decisions should you make regarding production levels and pricing for your Widget facility? Remember that supply and demand are about the market supply and market demand, which is much bigger than your own company. You are being given data on supply and demand for the whole market and are being asked what effect that has on you as a small part of that market. You want to identify the possible change in market equilibrium price and possible change in market equilibrium quantity based on the shifts in demand and supply and adjust your own price and quantity to match the market.
(Part B) Now, suppose that the following changes in demand and supply occur: (1) a complimentary good goes up in price and (2) your costs of production decrease. What decisions will you make regarding production levels and pricing for your Widget facility based ONLY on these changes, for example, do not factor in the changes in part (a) here?
Assume 2 firms on a street of length 1, with zero costs of production. Consumers are uniformly distributed on this street, desire only one unit of the good, and value the good at V = 100. To get to the firms and purchase the good, consumers need to p..
21.if planned aggregate expenditure pae in an economy equals 2000 0.48y and potential output y equals 4000 then this
How many units of labor should be employed? b. How many units of capital should be employed? c. What would be the total cost of production?
GDP is significantly lower in your country than in the United States, Illustrate what might this imply.
q. 1. did you find that the items grouped together as you worked down the flow chart had similar characteristics in
A industry is currently operating where the MC of the last unit produced = $84, and the MR of this unit = $70. What would you advise this firm to do.
The supply and demand curves are: Qs = - 800 + 15p and Qd = 3200 - 25p. Solve for the market equilibrium. Now suppose a tax of $20 per unit is imposed on consumers. What are the new equilibrium quantity, buyer's price and seller's price? What is tax ..
A monopolist faces an inverse market demand P(Q) = 200 − 1 2Q and a marginal cost of MC(Q) = 20 + Q. What is the unregulated monopolist’s optimal quantity? What would an appropriate regulatory instrument to bring this market back to efficiency? What ..
In an effort to avoid the adverse selection death spiral, a private health insurer offers two health insurance policies: one that is intended for those who are more likely to require expensive treatment (and therefore charges a higher premium) and on..
Consider an auction with 1,000 risk-neutral bidders. It is know that these bidders have affiliated values. Based on this information we know the expected revenues for the different auction types will be
Explain why PC is likely to be related to parent's income. Would parent's income be a good Instrumental Variable for PC?
If production of an item results in negative external costs, then the market price is below the socially referred price that reflects the external costs the market price is above the socially preferred price that reflects the external costs market fo..
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd