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One of the walrassian assumptions of the competitive (Walrasian) mechanism is all agents are endowed with "perfect information".
What does it mean and what are the distinguishing characteristics? What other assumptions of the competitive mechanism support the perfect information assumption?
In competitive market the market demand is Q=60-6P and supply =4P
The time for a new instructor to create a Blackboard test question and check it out is 219 minutes. Determine the time in minutes or fraction thereof for him to create the 39th question if the average coefficient of learning is 0.77.
Reliable packaging is a perfectly competitive firm. Its output is 20,000 units a day; its daily total revenue is $750,000; its average total cost is $37.50; and its average variable cost is $27.50. It is operating at the output level where average to..
A limited has an authorized share capital of 200,000 shares of Kshs. 1 each out of which only 150,000 shares have been issued. Although the firm requested the shareholders to pay 80 cents per share, they were able to pay 50 cents per share.
just about everyone agrees that there is a legitimate and important role for government in business. where the
Draw a demand and supply diagram of a bond market and show the equilibrium price and quantity demanded and supplied in the diagram. What are the factors that shift these demand and supply of bonds? What is the relationship between bond market prices ..
Harry Mazzola, who consumes only corn chips and french fries. His utility function is u(x1, x2) = min{x1 + 2x2, 2x1 + x2} where x1 is his consumption of corn chips and x2 is his consumption of French fries. At what prices will Harry consume only corn..
Analyze and evaluate the impact of public policy on economic growth from an ethical and global position. Be sure to be specific as to which ethical posture you are taking. See this website for information on ethical postures.
Rental cars should be treated as perfectly divisible. Be sure to provide numerical coordinates for any particularly key point.
Suppose you are the administrator in charge of setting the toll for crossing a toll bridge across a river. The current toll is $1 per trip and at that toll 1000 trips per hour are taken across the bridge. If the price elasticity of demand for trips i..
q.marys fence post factory faces a perfectly elastic demand curve for fence posts at a price of 39 per post. let q
What is rent seeking and how does it differ from the kinds of profit maximization and profit seeking that we discussed in previous chapters?
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