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Coke and Pepsi are going to play a game three times. During each game, if they both select a low price or a high price, their market share stays the same. But if one selects a low price while the other selects a high price, then the one with the low price gains market share while the one with the high price loses some market share. Based on this information what is the most likely outcome of the first game, the second game and the third game?
Explain why in a monopolistic industry, if demand and cost curves are the same as those of a competitive industry, and if the demand curve has a negative slope and the supply curve has a positive slope, then monopoly output will be lower and price..
identify economic factors that affect the real gdp the unemployment rate the inflation rate and a key interest rate.
suppose that this years money supply is 500 billion nominal gdp is 10 trillion and real gdp is 5 trillion. a. what is
heavy rains caused the flooding of the mississipi river and the missouri river as well as some of their
Suppose the government decides to place a tax on competitive business profits that would cause businesses to decrease output and generate a deadweight loss. Revenues from the tax would be redsitributed to low-income individuals. The decision to le..
Reader's Digest Association is a publisher of magazines, books, and music collections. The following note is from a recent annual report:Revenues Sales of our magazine subscriptions are deferred (as unearned revenue) and recognized as revenues ..
A recession greatly affects the daily market demand for Maine lobsters
Assume that income is RM70. What is the price elasticity at P = 8. Also, calculate arc elasticity at the interval between P=7 and P= 8.
vaughan ltd makes 2 different types of shoe brogue and casual each using the same leather and the same skilled labour.
suppose you are studying the market for shoes. two events take place simultaneously. first price of leather decreases
You can choose a business or industry in which you are employed or a family member is employed or just an industry in which you are interested. Which type of market does this business or industry compete in?
Assume that the marginal utility of good A is 4 times the marginal utility of good B, However the price of good A is only 2 times the price of good B. Is this point consumer equilibrium? If not, what will occur?
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