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The oil well Maconda exploded in the Gulf of Mexico in 2010, killing 11 people and creating a huge oil spill. BP did not own the deepwater horizon platform, but leased it from a company called Transocean. Would BP have paid more attention to safety if it owned, rather than leased the platform? Explain.
Explain in one or two paragraphs why innovation is at the heart of creating and sustaining competitive advantage for firms. You need to mention the interrelationships between innovation, productivity, competitive advantage and value-creation.
Calculate output, marginal cost, average cost, price, and profit at the average cost-minimizing activity level and calculate these values at the profit-maximizing activity level. Explain your answers briefly
Given that milk and cookies are complements, suppose the price of flour (an ingredient in cookies) rises. What happens in themarket for milk. In a competitive market, when price is below the equilibriumprice, there will be pressure for the price to.
how does the charging the monoply a specific tax per unit affect the monopoly optmum and 5the welfare of
You run a small business and would like to predict what will happen to the quantity demanded for your product if you raise your price. While you do not know the exact demand curve for your product
Suppose that two competing firms, A and B, produce a homogeneous good. Both firms have a marginal cost of MC = $50. Describe what would happen to output and price in each of the following situations if the firms are at (i) Cournot equilibrium, (ii) c..
An Alumnus of West Virginia University whishes to start an endowment that will provide scholarship money of $40,000 per year beginning in year 5 and continuing indefinitely. The donor plans to give money now and for each of the next 2 years. If..
The commission paid by the RTC to the company to sell these homes is a flat rate of $2,000 per unit sold,rather than the customary commission that is based on the sale price of a home.
barron chemical uses a thermoplastic polymer to enhance the appearance of certain rv panels. the initial cost of one
How could we argue that these markets are notcompetitive and could each firm face a demand curve that is not perfectly elastic?
calculate the mean and standard deviation of 1-year and 20-year treasury constant maturity rates data series. using the
suppose that marginal utility of good a is 4 times the marginal utiltiy of good b but the proce of good ais only 2
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