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When comparing perfect competition and monopoly, a major assumption made is that
A) the monopolist has the same supply curve as the competitive industry
B) consumers don’t know whether the industry is competitive or monopolized
C) the marginal costs of production are the same under monopoly as under perfect competition.
Question: What is the "current macroeconomic situation" in the U.S. (e.g. is the U.S. economy currently concerned about unemployment, inflation, recession, etc.)? What fiscal policies and monetary policies would be appropriate at this time?
If the price increases by 10 percent, by how much does the quantity of household (a) natural gas and (b) electricity change in the short run and in the long run?
A friend wants your advice. His aunt recently left him $100,000 that he must invest in one or both of two different corporations. The current price per share of each is $100. If your friend buys 1000 shares of the first corporation, what will be the ..
You're given the following demand and supply tables: a. Calculate market demand and market supply. P D1 D2 D3 DMarket $30 20 5 10 40 15 3 7 50 10 0 5 60 5 0 0 P S1 S2 S3 SMarket $30 0 4 11 40 0 8 17 50 10 12 18 60 10 15 20 b. Draw the market demand a..
The language of price controls Suppose that, in a competitive market without government regulations, the equilibrium price of hamburgers is $7 each. Complete the following table by indicating whether each of the statements is an example of a price ce..
Suppose that, in a perfectly competitive market at the profit-maximizing quantity, the market price is greater than average total cost. Carefully explain what will happen to the number of firms, the market supply, and the price of the good as we move..
What is the effect on the economic well-being of a nation when a tariff is imposed? Consult a newspaper and identify an industry where there currently is a tariff. What is the effect of this tariff on the U.S. economy?
Carbon tax: Suppose the government imposes a carbon tax on oil production. Will this affect the supply or the demand for gasoline? Why? Which determinant of demand or supply is being affected?
Discuss how important it is to you that your organization’s workplace values are in accordance with your own values. What are the dangers of a disconnection between workplace values and individual values?
If the government imposes a tax on the production of cars, which of the following will occur in the market for cars.
If the money supply increases too rapidly then, Monetary policy probably affects all of the following except, Which of the following is not a channel of transmission of monetary policy?
What is the optimality condition for the maximization of the utility function U (x,y) = xy^3 and the prices (Px,Py) = (2,.0.5)? Using the utility function and optimality condition from the previous question, If M = 40 what are the utility-maximizing..
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