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(a) What is meant by the concept of a standard of living?
(b) What are the difficulties in measuring this within one country and making comparisons of the standard of living of people in different countries?
Explain the difference between the demand curve facing the monopoly firm and demand curve facing the perfectly competitive firm.
Explain the output and price effects which affect the profit-maximizing decision faced by the firm in oligopoly market. How does this differ from output and price effects in monopoly market?
Explain the rationale for government regulation of companies with market power. Is regulation in the customers interest or in producer's interest and how might this control special interest groups?
what would this price be in order to eliminate the deadweight loss. Show and explain. Why would the monopoly not charge this price? Show and explain.
Many airline routes worldwide are served by only one airline (a monopoly). Within the U.S., these are often from a small or mid-sized city to a major carrier hub and frequently operated by a regional carrier under contract to the larger airline.
What is the present value of your wealth at the beginning of your life, what is the largest constant consumption stream you can afford and what borrowing/lending strategy you will use to accomplish b.
What do you think about the most important determinants that impact demand for banking industry's product or service and determine the impacts of innovation and technology on the cost of production?
what happens to the AFC per paper, the MC per paper, and the minimum amount that you must charge to break even on these costs?
What is the monthly payment if you ?nance the car over 4 years at the following interest rates: 0%, 4%, and 8%?
Calculate the standard deviation of the distribution of each investment. (b) Which of the two investments is more risky? (c) Which investment should the individual choose?
Find out the Marginal Revenue and Marginal Cost
Would this additional spending on advertising achieve the effect of deterring Maytag from entering? Should GE pursue this option?
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