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Suppose that there are only two firms (Firm A and Firm B) in the market for decorative lampshades. Letthe inverse demand function and the total cost function be given by P = 50 –Q and TC = 2Q
The firms compete with each other by choosing the quantity of lampshades the wish to produce. In thisscenario Firm A is able to choose its production level first
(a) How many lampshades will Firm A choose to produce?
(b) How many lampshades will Firm B choose to produce?
(c) Solve for the market price for the lampshades.
(d) Solve for the profit earned by each firm. What’s the industry profit?
In an effort to protect domestic olive oil producers from international competition, the French government is considering the introduction of an olive oil subsidy. In a diagram, sketch the demand curve and the supply curves and clearly mark the marke..
We know that Keynes and Minsky both had a multipoint description of the trade, or business, cycle with Minsky being more detailed than Keynes. Using Keynes' elements of the trade cycle as major bullet points, as-sign Minsky's elements of the business..
If the firms could collude also agree on Elucidate how to split the total profits illustrate what outcome would they pick.
Illustrate what is payback period method of investment. Explain how it can be applied to choose among investment project.
Suppose a bond which makes annual coupon payments has a coupon rate of 10 percent and 5 years to maturity. You wish to purchase one of these bonds and you require an 11 percent return on your investment. What price should you be willing to pay for th..
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Illustrate what is the "incubator effect" that Taiwan's government hoped would emerge in its EPZs.
In 1990, the ratio of Japanese to US labor productivity in the steel and consumer electronics industries were estimated to approximately 1.4 and 1.12. We will assume that (a) these are the only two industries and labor is the only factor of productio..
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What would happen to the budget deficit if the: GDP growth rate jumped from 1 percent to 3 percent? Inflation increased by 2 percentage points?
Explain the output effect and the price effect for an oligopoly. How does each influence the oligopolist's production decision?
The first audit of the books of Bruce Gingrich Company was made for the year ended December 31, 2015. At the beginning of 2013, the company purchased a machine for $494,300 (salvage value of $52,600) that had a useful life of 6 years. The bookkeeper ..
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