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(a) Explain why the assumption of imperfect competition is necessary for endogenous growth models.
(b) How might well enforced intellectual property rights actually lead to divergence rather than convergence?
Use a demand and supply model to describe the impact of occupational segregation or "crowding" on the relative wage rates and earnings of men & women.
Fill in the table for the perfectly competitive firm. Explain how you arrived at each number and what is the optimal output, price and profit of the firm?
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.
Which graph best illustrates the market for typewriters after technological advances in computerized word-processing software occur - different markets with changes in either the supply curve or the demand curve.
Explain the difference between a monopoly and an oligopoly, and a cartel and provide an example of a monopoly, an oligopoly, and a cartel.
What are the monopolist's profit-maximizing output and price and what is the resulting deadweight loss relative to the competitive outcome?
Calculate the quantity demanded at prices of $5, $4, and $3 and calculate the prices necessary to sell 1,250, 1,500 and 1,750 thousand s of five gallon containers.
What employees are involved, what are their perceived inefficiencies, and how are they compensated and evaluated?
The demand for energy in the United States is often stated as persistently non-cyclical and not sensitive to both prices effects. Given such characteristics, explain the effect of each of the following on the demand or supply for gasoline.
A Firm has total cost function given by following: What is the Total fixed cost when Q = 100? And Average fixed Cost when Q=100?
Set up the Lagrangian for a cost minimization problem, then use it to derive the Hicksian demands for goods X and Y when the utility function has the Cobb-Douglas form
What is the welfare loss in the labor market compared to the case where the engineer labor market is competitive?
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