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Two firms have identical cost curves, but firm A is a price taker while firm B is a price searcher. Is it possible that the two firms could find themselves at the same wealth maximizing output? (Assume that firm B is NOT able to engage in any form of price discrimination.) If so, explain the specific circumstances under which this would occur; if not, prove it.
You are the manager of a small pharmaceutical company that received a patent on a new drug three years ago. Despite strong sales ($200 million last year) and a low marginal cost of producing the product ($0.45 per pill), your company has yet to show ..
All else equal, what is short-run effect of an increasing US output Y on US interest rate. All else equal, what is short-run effect of an increasing US prices P on US interest rate.
How is it that case law can become mandatory authority? We know that each court decision that becomes case law is made by judges who compare the facts of the case with their interpretation of the law.
Suppose a central bank has increased its nation's nominal money supply considerably for several years in a row, but without any increase in inflation. Over the same time, suppose its economy has not grown. Assume the economy is initially in a long-te..
Write a 2-3 page paper describing the biological, social, psychological, and sociocultural contributions to the development of a stress disorder (PTSD or ASD). Your paper should also include a description of the main characteristics of the stress dis..
Suppose Canada has 100 workers and 160 units of capital whereas Mexico has 100 workers and 70 units of capital. Apply the definitions of factor abundance and factor intensity to sort countries and products. What would you expect the pattern of trade ..
You purchased a bond for 9500 dollars. The bond matured in 4 years and you sold it for 111,000 dollars. The par value (face value) of the bond was 10000 dollars. Interest payments were made every 6 months. The personal rate of return you received (so..
Suppose the demand curve for oranges is given by the equation. Compute the equilibrium price and the quantity of oranges
Principles of economics for evaluating and assessing the need for the public health initiative, A brief description of whether the initiative is a micro or macroeconomic program, A determination of whether the result of the initiative is a public or ..
A community has four residents. The table shows the number of dental visits each resident will have. Calculate the total quantity demanded at each price. Then graph the relation between price and total quantity, with total quantity on the horizontal ..
Which of the following is not a valid generalization concerning the relationship between price and costs for a purely competitive seller in the short run?
There is no real need for advertising in perfect competition or monopoly. However, firms in monopolistic competition and oligopoly usually do advertise. Watch the video for this week and tell us what you think about online advertising techniques vs. ..
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