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Consider an oligopoly with n Cournot competing firms. Market demand is linear, p = a - bQ (where Q is total output), and the firms initially have symmetric marginal cost, ch . Suppose one firm can innovate and obtain a patent that allows it to compete with the others firms at a lowermarginal cost, cl . Assume that the innovation is nondrastic. What is the private value of innovation to the innovating firm? What if the innovation were drastic so that the innovating firm exists as a monopoly after the innovation?
Explain how much money will Pat have available to spend on her new computer after 1 year.
Suppose you are the main negotiator between your company and retailers carrying your company's line of dairy products. Your company is attempting to introduce a new brand of Greek yogurt, and it is your responsibility to negotiate agreement between y..
Using information given: What is average cost of first do these of a new drug. What about marginal cost of subsequent doses? Is this consistent with behaviour of costs for an information product.
Under what conditions would WTO allow countries to impose (practice) the following (be specific)?
Explain how the following events affect output, capital and consumption per unit of labor in the long run and along the transition according to Solow's Model: The destruction of 30% of the capital stock because of a natural disaster. A permanent incr..
Are there any particular imported commodities that you or your firm rely on. Illustrate what has happened to the supply of these imports over the years.
Suppose a war breaks out in the Middle East, which raised the price of gasoline in the United States. How would this impact the supply and demand for gasoline in the Unites States? Please illustrate using a graph and explain in words.
q.a competitive firm sells its product at a cost of 0.10 per unit. its total cost function istc 5 - 0.5q 0.001q2a
Elucidate relationship among production curves average product and marginal product also cost curves average variable cost, average total cost and marginal cost.
Using TP=Q=f(K,L) show mathematically that the average product of labor curve intersects the maximum point of the average product of labor curve. Demonstrate mathematically that the maximum point of the average product of labor curve falls on the dow..
If the price level remains constant by Explain how more will real output increase.
Examine two (2) arguments one for and one against raising the minimum wage, and discuss your findings. In view of the weak economy of the last several years, explain which of the four components of GDP had, or is having, the greatest positive impact ..
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