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It is a typical Christmas electronics shopping season, and makers of flat-panel TVs are marketing the latest available models through their own Web sites as well as via retailers such as Best Buy and Wal-Mart. Each manufacturer offers its own unique versions of flat-panel TVs in differing arrays of shapes and sizes. As usual, each is hoping to maintain a stream of economic profits earned since it first introduced these most recent models late last year or perhaps just a few months before Christmas. Nevertheless, as sales figures arrive at the headquarters of companies such as Dell, Samsung, Sharp, and Sony, it is clear that most of the companies will end up earning only a normal rate of return this year.
a) How can makers of flat-panel TVs earn economic profits during the first few months after the introduction of new models?
b) What economic forces result in the dissipation of economic profits earned by manufacturers of flat-panel TVs?
Assuming no population growth or technological progress, find the steady state capital stock per worker, output per worker, consumption per worker and investment per worker given that the rate of saving is 20% and depreciation rate is 10%.
You have calculated the expected NPV of project A to be $3,758 and that of project B to be $3,114. Can you be certain that you should recommend to your management to implement project A.
A firm, which is the only supplier of a good located in a particular town, is accused of engaging in anticompetitive tactics in order to protect its monopoly position in that town. As part of its defense, the firm has argued that the geographic an..
The second largest public utility in the nation is the sole provider of electricity in 32 counties of southern Florida. To meet the monthly demand for electricity in these counties, which is given by the inverse demand function P = 1000 - 5Q.
Presently you have to decide on a strategy - will PM Company simply sell its products (trade) or expand its markets via investment.
Suppose that the interest rate is determined by; M/P=d1Y-d2i, where P is the price level, Y is real GDP and M/P is real money stock,
Maggie's utility function is and her income is $5000. Then her MRS at generic bundle (x1, x2) is 50-0.25x1. Commodity 2 is a composite good, and hence its price is unity.
The questions asked if a paper mill manufactures $1 million worth of paper this year but adds considerably to the pollutants in a nearby river, are the social expenses arising from this pollution reflected in the gross domestic product?
Amaranda and Bartolo consume only two goods, X and Y. They can trade only with each other and there is no production. The total endowment of good X equals the total endowment of good Y.
In response to pressure from environmentalists the government now tightens the maximum damage standard to 4 units. How much fertilizer will farmers use now? What will their profit be? What is the net societal benefit? What is the value of ??
A company in a purely competitive industry is currently manufacturing 1200 units per day at a total cost of $600. If the company purchased 1000 units per day,
Define the union wage gain and the union wage gap. Why should we care about the magnitude of the union wage gain? Why should we care about the magnitude of the union wage gap? Under what conditions will the union wage gap provide a reasonable est..
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