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What will be the dominant firm's profit maximizing output? the total output and price produced in an oligopoly market characterized by a dominant firm and a fringe. SF represents the supply curve of the fringe, D is the market demand curve, DRES represents the residual demand curve of the dominant firm, MRRES represents the residual marginal revenue curve of the dominant firm, and MCD represents the marginal cost of the dominant firm.
Describe some of the microeconomic and macroeconomic factors a firm must consider in its own sales and profit forecasting.
What are the marginal rates of substitution for each person and what is the formula for the contract curve and draw an Edgeworth box, labeling carefully, and indicate the contract curve.
Why is the concept of elasticity important? What does it tell economists? Tell whether you would classify automobile production as either elastic or inelastic in the short run and long run. (Keep in mind that we are talking here about supply elas..
You have been tasked by your boss to forecast what hours of work through your workers would be following a proposed increase. you have had a flexible policy of workers selecting their hours
Explain and show graphically how this market would be affected if there is an increase in the number of dairy farmers that produce hormone-free milk and at the same time south african consumers choose to be more healthy
Write a report outlining what firms need to do in order to bring in the most talented people (from anywhere) and make the fullest possible use of their abilities.
Given this information, what can you say, if anything, about the change in inflation in these two economies? Specifically, what happened to t (relative to t-1) in these two economies? Suppose tA ?t-1B. Given this information, ..
Does the presence of online auction sites, such as eBay, make it easier or harder for traditional retailers and wholesalers to engage in profitable price discrimination? Explain.
Briefly describe three factors that could shift the aggregate supply curve of the economy to the right. Briefly explain the difference between the deficit of the Federal government and the National debt of the United States.
Given the economic situation today, outline the discretionary fiscal policy you would promote if you were president. In terms of the AD-AS model.
Briefly explain how this will affect money supply over time and how, even without any intervention on the part of the government or the central bank, the economy would self adjust over the following few years.
John Adams wrote in 1814, "Democracy never lasts long. It soon wastes, exhausts and murders itself. There never was a democracy yet that did not commit suicide."
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