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1) What are the conditions for a perfectly competitive market? What are the conditions for a monopolistic market? What are the conditions for a monopolistic competitive market? What are the conditions for an oligopolistic market? How would you explain the differences among these market structures? Identify which market structure your organization competes in and why you think so. 2) Can a perfectly competitive firm compete against other firms by lower its price? Explain. 3) What do think would happen to competition in the industry where you work if, say, a certain number of firms would close down? What would happen to their price-making ability? 4) how are profit eliminated in a perfectly competitive market? What does competition have to do with it? Explain. 5) What conditions exist when economic profits are maximized? What is the difference between economic and accounting profits? What are economic profit-maximizing strategies that may be made by a perfectly competitive firm, a monopolist firm, and a monopolistic competitive firm? Provide examples and explain the strategies' effectiveness in their respective market structures.
Which auction should you choose to maximize your profit? The first-price bidders shade their bids by 20% of their evaluation of its value. The second-price bidders all utilize the optimal strategy for second price auctions stated in the textbook.
It is estimated that .44 percent of the callers to the Customer Service department of Dell, Inc. will receive a busy signal. What is the probability that of today's 1,100 callers at least 5 received a busy signal Use the poisson approximation to t..
A demand curve is given by the following equation: P = -2Q + 40. i) Calculate the Total Revenue when Q = 5 and when Q = 8. ii) Calculate the price elasticity of demand between Q = 5 and Q = 8. Round decimal answers to two places.
Consider the market for DVD movie rentals, which is perfectly competitive. The market supply curve slopes upward, the market demand curve sloped downward, and the equilibrium rental price equals $3.50.
What is the value of the multiplier d. Calculate the saving function for Freedonia. Plot this sav- ing function on a graph with equation (2). Explain why the equilibrium income in this graph must be the same as in part b.
An engineer starts to make quarterly deposits of $1,500 (at the end of a quarter) into an investment account at age of 45. If he wants to have $250,000 when he retires at age of 65, what must be the nominal and effective interest rates per year
On january 1,2005, a person's saving account was worth $200,000. Every month thereafter, this person makes a cash contribution of $676 to the account. I f the funds is expected to be worth $400,000 on january 1,2010
Complete the following table for a single firm operating in labor market, A and product market, B a) What, if anything, can one conclude about the degree of competition in labor market A and product market B b) What is the profit maximizing level of ..
The firm prefers to have type M in job D type U in job E. In the best outside option, the candidate is paid $80,000 a year. The monetary value of disutility in the job D is $15,000 for type M and $30,000 for type U.
A cupola for a foundry was purchased for $3000.$500 more was spent on its erection and commisioning.The estimated residual value after 10 yeras was $700. A)calculate annual rate of depriciation. B)Determine the amount of depriciation at the end of ..
Which economic model do you believe is the most beneficial to YOU at the present time? Explain why
Format: Your essay should be typed according to MLA format. You will need to refer to the text of the play you are analyzing. Be sure to use appropriate MLA format for both in-text citations and list of works cited. No title page is necessary.
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