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Assume that you are going to start a small business of your own. Further, imagine that you are able to adequately differentiate your product, or service so that you can establish your business as a monopolistically competitive firm.
Describe the business and its likely main competitors.
How would you structure your advertising and customer service to differentiate your product/service?
How easy would it be for new competitors to enter your market and erode your customer base or selling price?
What would be your prognosis for the long term profitability of such a business?
What could you do to protect that long term profit stream?
Write the function for the indifference curve and graph it when U=10 and U = 20. b) Write the function for the budget constraint and graph it.c) What are the utility maximizing amounts of X1 and x2 given the budget constraint? d) Would your answer..
a.Calculate the marginal revenue product for each add. unit of labor of output sell $3 b. draw the damand curve for labor based on above data and the $3 per unit product price c. wage rate is 15 per hour, how much labor will be hired
Assume that the production and distribution technology for all the new rms is the same as SIT press i.e., each firm bear a cost of $2 for each copy. Identify the equilibrium price and compute the equilibrium quantity
A student is taking two courses, history & math. The probability the student will pass in the history course is .60 and math is .70. The probability of passing both is .50.
If the price of shoes is set at $75 for both July and August and demand will be D2 in July and D1 in August, how many pairs of shoes should Stromnord order if it wants to end the month of August with exactly zero pairs of shoes in its inventory.
market supply is Qs= 4P -110 ( both in millions) where P isthe monthly price of telecommunication services. The senator is considering tax reform that will cut tax rates,leading to a supply function under the new tax policy of Qs =4.171P - 110.
find the optimal level of pollution as recommended, we need to set total marginal cost = 0, then I have 2 + 2P -3 = 0 => 2P -1 = 0 => P = 0.5 You have already evaluated MCP = 2 + 2P and MCC = -3 B) At this level of pollution, what is the marginal cos..
Using a method similar to the consumer price index, compute the percentage change in the overall price level. Use 2009 as the base year, and fix the basket at 1 karaoke machine and 3 CDs.
Consider an economy with two separate regions: A and B. There are 100 million workers in total who supply their labor inelastically. The demand for labor (in millions) in region A is EA = ??100 - 15 wA and in region B it is EB= 100 - 15 wB.
The Manor Corporation has $800,000 of debt outstanding, and it pays an interest rate of 12 percent annually. Manor's annual sales are $2.4 million, its average tax rate is 35 percent, and its net profit margin on sales is 7 percent.
A. The Federal Reserve Bank then buys (purchases) $250,000 of U.S. government securities on the open market from Mr. X who has his checking account at Wilber National Bank. Show how you determine your answer and indicate the numerical effect this op..
A local lending institution advertises the "51-50 Club." A person may borrow $2000 and repay $51 for the next 50 months, beginning 30 days after receiving the money. Compute the nominal annual interest rate for this loan.
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