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When developing short-run cost curves, it is assumed that all firms in perfect competition have the same cost curves and they all make identical short-run profits or losses.
Contrast this to the real world and why individual firms might experience different cost curves and different profits.
Describe the factors in Michael Porter's "Five Forces Model" that affect the ability of any comapny in an industry to earn a profit.
At a product price of $56, will this company produce in the short run explain why or why not? If it is preferable to produce, what will be the profit-maximizing or loss minimizing output
Explain what would happen to the demand for Motorola picture phones if the price of digital cameras rose
In a simple model of duopoly, two company manufacture the same good, for which each firm charges either a low or a high price. Each firm wants to achieve the highest profits.
Suppose the Lexington mayor caps the amount police can ne speeding motorists at $500. The police vow to step up enforcement in order to cintinue to deter speeding. How high must the probability of being caught speeding be in order to deter most pe..
you have $250 000 in and ira (individual retirement account) at the time you retire. you have the option of investing this money in two funds. fund A pays 2.5% annually and fund B pays 7.5% annually. how should you divide your money between fund A..
Illustrate what are the benefits of free trade. Who are the winners and losers when the government imposes tariffs and quotas.
a security paying $ 80 0ne year from now and $ 1080 two years from now, for which you pay $1,050 today ?a security paying $ 50 every six months for the next five years (beginning six months from now), plus the return of the face value of $1,000 at ..
Philips Industries produces a certain product that can be sold directly to retail outlets or to the Superior firm for further processing and eventual sale as a completely different product.
Explain why do we have such extreme diversity in pay in the US-port stars, actors, others making very high salaries while others make much less.
Explain the reasons behind that why a currency undergoes a significant depreciation and what were important characteristics of Asian countries involved in the crisis?
Explain the science of economics in the presence of making a profit with scarce resources
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