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The Milwaukee Brewers are playing their archrival Chicago Cubs. Bleacher tickets for the game were sold out and many fans would have attend if tickets were availiable. 1. Draw the demand and supply lines for bleacher tickets for this game. Label the equilibruim bleacher price and the current bleacher price. Label the equilibrium price and state whether the actual price is above or below equilibrium. 2. Did the Brewers use the optimum pricing policy? Explain. If not,explain. 3. What is the main rationing mechanism to allocate tickets for the game?
The cost of other variable inputs is $2,000 per day. You are told that the firm's fixed cost is high enough so that the firm's total costs exceed its total revenue.
Greetings Corporation stores, as well as the Wall Décor division, have enjoyed healthy profitability during the past 2-years. Although profit margin on prints is often thin, volume of print sales has been substantial enough to generate 15 percent of ..
When someone owns an asset (such as a stock) that rises in value, he has an "accrued" capital gain. If he sells the asset, he "realizes" the gains that have previously accrued. Under the U.S. income tax, realized capital gains are taxed, but accru..
Which graph best illustrates the market for typewriters after technological advances in computerized word-processing software occur - different markets with changes in either the supply curve or the demand curve.
Explain the most important characteristic in perfect competition, monopolistic competition, oligopoly, and monopolies and relate the characteristic to how these firms can make profits in the short run. In your analysis, make sure to relate an exa..
.if individuals are free to produce whatever goods they want, then when excess profit is being made, more people will enter into the production of that good and consumers will benefit as the price is pushed down.
what are the expressions for AC's total revenue ,marginal revenue, total cost and marginal cost as a function of output? what is AC's fixed cost and what is the variable cost?
Consider the price-taking firm in competitive industry for raw chocolate. The market demand and supply functions for raw chocolate are estimated to be
Based upon marginal revenue or marginal cost analysis, explain how output and price are determined in monopolistically competitive markets.
Disinflation is defined as a reduction in the rate of inflation. B. Policymakers can exploit a trade-off between inflation and unemployment in the short run but not in the long run. C. Unemployment rates below the natural rate of unemployment are di..
Choose any firm and think about its buying and selling activities -everyone buys and sells, or at least "procures" and "supplies", or otherwise participates in exchange transactions.
Estimate the number of cups served per week and determine outlet demand curve. What would be the effect of a $5000 increase in the competitors' advertisement expenditure and outlet demand curve
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