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Brewster Industries (BI) makes turn signals for automobiles. BI's brilliant founder, Dr. Ava P. Brewster, has recently discovered a way to lower BI's materials cost by 45% through the use of nanotechnology. What will this breakthrough do to the quantity of turn signals supplied and the price of turn signals? Be sure to stipulate if this is represented by a shift of the supply curve (change in supply determinant) or a movement along the supply curve (change in quantity supplied). How will this change impact the quantity of turn signals demanded, if at all? Be sure to stipulate if this is represented by a shift of the demand curve (change in demand determinant) or a movement along the demand curve(change in quantity demanded). BI's longtime competitor, Rosebud Enterprises, has been unable to match BI's technological breakthrough and is evaluating its best response to the change in the market. In addition to the new supply and demand curves and BI's new price for its turn signal, name two other pieces of information Rosebud needs to make a sound evaluation. If, after its evaluation of the market, Rosebud concludes that it has fallen too far behind BI technologically to compete and therefore decides to withdraw entirely from the turn signal market, what will happen to the quantity of turn signals supplied and the price of turn signals? Be sure to stipulate if this is represented by a shift of the supply curve or a movement along the supply curve.
If a competitive firm is currently producing a level of output at which profit is not maximized, then it must be true that marginal revenue exceeds marginal cost.
i.explain the difference between accounting profit and economic profit. include discussion of the distinction between
Neolithic Revolution
explain the relationship between the price elasticity of demand and total revenue. what are the impacts of various
Suppose that Jeffs friend Warren has an idea for product improvement at his firm but he is concerned that the idea may already be patented. If indeed the improvement is already patented, the firm holding the patent may sue Warren for infringing th..
for most firms today success or failure is determined by the ability to find attract keep develop and tap into the most
you are responsible for economic policymaking in your country. your desire is to eliminate inflation keeping prices
In a competitive market, the market demand is Qd = 400 - 5P and the market supply is Qs = 10P - 80. A price ceiling of $32 will result in a. a shortage of 80 units b. a shortage of 44 units
June 26 2008 - A recent opinion through Opinion Research Corporation found that many United States businesses are missing out on vital feedback and ideas from their own workforces.
In the debate on fixed versus floating exchange rates, the strongest argument for a floating rate is that it frees macroeconomic policy from taking care of the exchange rate.
Which of the following statements is correct? Marginal revenue equals $3, Average revenue equals $600, Average revenue exceeds marginal revenue, but we don%u2019t know by how much.
Compute the percentage change n nominal GDP, real GDP, and the GDP deflator n 2009 and 2010 from the percentage year. For each year, identify the variable that does not change?
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