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A. What are the key characteristics of monopolistic competition?B. If in the short-run, firms in a particular industry experience profits that exceed a normal economic profit, what signal does this send to firms outside the industry? If firms choose to enter or exit the industry, do they do so in the short-run or the long-run? Why?C. What is the relationship between a firm's attempt to distinguish or differentiate its product from competitors and price elasticity of demand?D. Compare an industry operating under conditions of monopolistic competition with an industry operating under conditions of perfect competition as it relates to price, output levels, and efficiency.E. Why is "Brand Name" important when a firm is operating under conditions of monopolistic competition? Is there a cost associated with the variety provided by firms operating under conditions of monopolistic competition? Explain.
Draw the per capita production function and supporting curves to capture the economy and provide a brief economic explanation of the consequence of lower savings on long- term growth rates.
Calculate the mean income class for those individuals with private, employer sponsored insurance. Is this greater than or less than the mean income class for those with private, individually purchased insurance? Any thoughts regarding the compari..
Income from the mining of mineral deposits usually decreases as the resource becomes more difficult to extract. Determine the future worth in year 10 of a mineral lease that yields income of $12,000 in years one through four and then amounts that..
Whre the rest of the world propelled by the requires of developing countries, continued to increase by the historic rate. What would be the US share of total consumption in 2050 in percent.
Reflecting back on what you learned about sustainable management practices throughout this quarter; determine 5 activities that illustrate sustainable management of resources that you pursue in your everyday life.
The cenima manager observes that the increase in price causes attendance at a given movie to fall from 300 persons to 200 persons.
Elucidate what would you expect to happen to the nominal yields changes in inflation expectations and required real yields occurred.
Assume first that Apple were to sell only 4GB iPods after all,they cost the same and some consumers prefer more than less. What is the optimal price for a 4GB iPod.
Explain how the below game should be set-up, played and solved a consumer decide.
If the desired fiscal stimulus is $20 billion and the desired AD increase is $50 billion, we can conclude that the MPC is:
Provide an argument for or against trade. Explain your reasons. What should government do to support your argument.
Describe the economic and political economy aspects of the globalization debate. Why has globalization created so much controversy.
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