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1. This discussion will require some thought. Reread the section on Nash Equilibrium. In all of the market structures except oligopoly, firms identified the level of output at which MR = MC, produced that level of output, and charged a price dictated by demand. In Nash Equilibrium, MR and MC are not mentioned. What condition required the change in methodology? Is the firm still maximizing profit? Is the condition for an optimum allocation of resources being met?
2. Explain why you believe that pharmaceutical companies are a better fit for a monopolistic model or a competitive model.
Using the Lagrangean multiplier approach calculate the optimal (i.e., service maximizing) combination of medical and social staff. Determine the optimal amount of service provided by BF.
When politicians using polling data emphasize issues to polls have given more importance than necessary they have fallen
Using the national income identity find the value of imports (IM). Illustrate what is the current account balance. Illustrate what is the savings rate.
explain exactly how you would take advantage of this situation to create a riskless profit.
John’s preferences over toothpaste (good 1) and beer (good 2) are represented by utility function u = ln x1+ x2. Prices are given by p1 and p2, and he has income of m. What fraction of his income does he spend on toothpaste?
Hebron and Stack discuss the fragmentation of nations - the rise of smaller units within a nation. While this is certainly happening at the same time as increasing market integration and globalization, is this a product of globalization or is mere..
Explain the viewpoints of classical and Keynesian economists. How did the economy that existed at the time of these theories influence them?
Explain how are money cost and opportunity cost related to each other. If markets function well, they are closely related. They are always identical in any economic system.
Though your answer needs to be correct in terms of economic theory (so be sure to read the assigned chapters), creativity and having fun with it is strongly encouraged.
You will select any country that is considered developed and compare it with a nation that is developing. Illustrate what are social, economic and political differences that set them apart.
Offering group medical coverage to large firms and requiring all employees to participate in the coverage.
Which of the following statements is generally True about information products?
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