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!
1. (Product Differentiation) One important way monopolistic competitors differentiate their products is by location. Re- view John Campbell's article,"Time to Shop:The Geography of Retailing," from the Federal Reserve Bank of Boston's Regional Review at https://www.bos.frb.org/ economic/nerr/rr1996/summer/rgrv96_3.htm. What locational strategies are retailers using? What does the theory of monopolistic competition predict about the success of such strategies in the short run and in the long run?
2. (OPEC) OPEC is the economist's favorite cartel to study. That is partly because it had such a spectacular short-run success and partly because oligopoly theory could be used to predict how OPEC pricing actually evolved.Take a look at the U.S. Department of Energy's OPEC Fact Sheet at https://www.eia.doe.gov/emeu/cabs/opec.html. What are some recent developments in petroleum pricing? How relevant are the factors listed in this chapter as affecting the difficulty of maintaining a cartel?
Explain carefully from the examples in sections IIB and IIC support the Akerlof's conclusion that asymmetric information is the source of market failure.
If neither company discounts its current prices, each company will end up with $400K in revenues for the month. If Company A discounts its prices and Company B does not, Company A will end up with $650K of revenues for the month.
3. Suppose an individual's utility function over income (M) and leisure (L) is U(M,L)·L, and the individual has non-labor income Y and earns wage w. The total amount of time available is 16 hours.a. What is the equation for the budget constraint? G..
a. complete the table above. you do not have to complete any cell with - in it. be careful calculating mc and mr note
a) Graph the budget constraint without the policy (without the cost subsidy), illustrating on the graph the role of K (the daycare cost), the weekly market wage rate w, weekly hours and assume the individual already possesses a yearly non labour inco..
Using the standard 2 periods model with period 1 on the x axis and period 2 on the y axis answer the following questions. The household has period 1 income of y, period 2 income of y’ and faces a market interest rate of r.
discuss some reasons for which individual consumers or households might be motivated to provide public goods such
Knowledge of economic theory to describe how these policy responses were expected to reduce the health hazards of alcohol consumption in the community.
What is the profit-maximizing output level xM? What is the profit-maximizing price pM (assuming that the monopolist can only charge a single per-unit price to all consumers)?
Inputs of labor Total Product Marginal Product
What is the average spell of employment, what is the average spell of unemployment and how many unemployed persons ?nd jobs - What is the reserve ratio at the bank?
1. Describe both quotas and tariffs. How do they impact domestic prices and deadweight loss How does an import quota differ from an equivalent tariff What is best for a nation as a whole: a tariff, a quota, or free trade
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