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United States production of USB flash drives is dominated by two firms, Lexarand Corsair. Both firms have a production cost of C(q) = 100 + q2(where q is in millions).They face stiff competition from ten Chinese producers. The Chinese firms each have a costof C(q) = 20q, but their production capacity is limited to 2 million units each, q = 2, or20 million total. Demand for USB flash drives in the US is determined by the functionD(p) = 50 - p.
Assume that Lexar and Corsair act as perfectly competitive firms and that Chinesegoods flow freely into the United States. Draw the aggregate (e.g. including all firms)supply curve for this industry in the space below. What is the market clearing price?
Suppose an economy has overbuilt and suffers from excess capacity. A recession ensues due to firm cutting back on expenditures. Is deficient demand more easily remedied by monetary or fiscal policy for this economy?
Use supply and demand curves to analyze increase/decrease for the following scenarios? i) shift ii) movement iii) equilibrium price iv) equilibrium quantity. Coffee prices soar due to a shortage of coffee beans. Market: Donuts. Prices for next year a..
An asset with a first cost of $240,000 three years ago is sold for $285,000. The asset was depreciated by the MACRS method and has a book value of $69,120 at the time of sale. Determine the amount of the capital gain, if any, and the amount of the de..
It will increase aggregate demand in the U.S. if the decrease in Canadian unemployment is very large. From what angle do you look at this question? I know that AD = C + I + G + NX. But honestly I have no idea where to go from there.
Bayer Schering Pharma AG, Germany owns Alka-Seltzer, which was launched in 1931 and was meant for relief of minor aches, pains, inflammation, fever, headache, heartburn, sour stomach, indigestion, and hangovers. Alka-Seltzer Plus was a spin-off of th..
What are the goals of an economic system? What is the criterion to measure the effectiveness os a system? What are monetary goals? What are the fiscal goals? How do governments influence monrtary and fiscal goals?
Consider the real inter temporal model with investment now focus specifically on the representative firm in this model. What does the representative firm maximize in this 2-period model? Use words and symbols. State one of the firm's three optimality..
Everything else? equal, when domestic currency appreciates against a foreign? currency: Contractionary fiscal policy leads to a? ________. Which of the following factors of production is least likely to show diminishing marginal? product?
Identify and discuss at least two economic phenomena for which the linear-in-parameters/linear-in-variables regression model may not be appropriate (besides any mentioned in the text).
What examples can you provide from your reading of business periodicals to support your ideas? Remember to think about both large and small firms.
Which of the following are examples of income? Chose all that apply. Which of the following are examples of expenditures? Chose all that apply
Social Responsibility: To include intercultural competence, knowledge of civic responsibility, and the ability to engage effectively in regional, national, and global communities. Why is active economic citizenship particularly important for a succes..
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