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Problem 1:
How can a manager of a supermarket maximise total revenue using various concepts of elasticity of demand? Use examples to illustrate.
Problem 2:
What are the distinguishing features of a market where firms are price takers? How would such a market characterized by imperfect competition? Use diagrams where appropriate.
Problem 3:
It is observed that some firms keep making profits in the long run despite no barriers to entry. Explain the reasons and possible strategies for such persistence.
Problem 4:
How can firms extract consumer surplus from their customers? Use examples to illustrate.
Problem 5:
(a). Explain why despite decreases in marginal cost, price may remain unchanged in an oligopoly setting. Use example to illustrate.
(b). Explain how equilibrium is reached in a Cournot model. Illustrate why would firms in such a model wish to collude? Use examples to illustrate.
(c). What factors can affect the decisions to sustain collusive agreements?
. Crumble Corporation produces cookies. Here is the relationship between the number of workers and output (in dozens of cookies) in a given day: Workers Output Marginal Product
There are different reasons for state trading. Important reasons are given below. (i) State may directly buy the goods required by the various government departments and agencie
The production function for (a Music company ) their CDs is q= 25*K*L , where q is the number of CDs produced each month, K is the hours of equipment used, and L is the hours of la
Current Daily Status(CDS): The reference periods (i.e. a year, a week and a day) are basically used to describe the period for which the workers are employed in the economy. T
discuss the revealed preference theory of consumer behaviour
#question.contrast the long run equilibrium position of monopolistic competition firm and oligopoly.
How equilibrium is achieved under monopoly
What is studying platform? Explain this term in brief. Studying Platform: A studying platform into modern economics comprises some basic economic principles or theories. Thi
Aspects to promote administrative reforms: Following aspects to promote administrative reforms: 1) A closer focus on results in terms of efficiency and effectiveness, and
Deficiency of Vitamin A Deficiency of Vitamin A has been found to impose adverse effects on roughly one third of the children below the age of five around the world. It has also be
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