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Why is the pricing of a Gillette safety razor a form of two-part tariff? Must Gillette be a monopoly producer of its blades as well as its razors? Suppose you were advising Gillette on how to determine the two parts of the tariff. What procedure would you suggest?
Given a 15% raise in a good's price and a 25% decrease in quantity demanded for good by consumer, which of the following types of elasticity best describes the demand curve for the consumer?
What happens to consumer surplus and what happens t o the economic profits earned by Widget Corp.?
What is true about the relationship between marginal revenue and marginal costs when profit is the greatest?
In economics, when you plot cost and revenue on Price-Quantity axis, the profit maximization condition is when marginal cost is equal to marginal revenue. This is the crucial notion to understand.
Draw a diagram with appropriate labels and indicate attainable, unattainable, efficient and inefficient areas on the diagram.
Which of following industries would you classify as an oligopoly? Which would you classify as monopolistically competitive? Explain your answer.
What is the maximum dollar amount your firm would be willing to pay in royalty fees to the Village Council every year for the monopoly right to sell gasoline in Fanjeaux?
Build a Balanced Scorecard for unit of the comapny for which you work. Identify the strategic objectives of the entire company and the secondary objectives for the unit.
Evaluate the 3 goals of the Fed, which are price stability, full employment and economic growth. Which one do you think is the most important goal for the Fed to focus on right now? Also, what would be appropriate monetary policy for the Fed to he..
Which market structure is best suited for the pharmaceutical industry (perfect competition, monopolistic competition, monopoly and oligopoly)
The manager of a corporate division faces the possibility of an audit every year. She preferes to spend time preparing if she will be audited; otherwise, she would prefer to invest her time elsewhere. The auditor, who gets recognized for uncover..
What is the minimal wage that must be offered to Yumi for her to sign this new wage contract and what is Yumi's expected revenue when she works hard? What is Yumi's expected revenue when she does not work hard?
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