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Identify government policies on competition. Explain concepts of microeconomics. Describe supply and demand from a microeconomics perspective
A. When dose the law of diminishing returns take effect? B. Calculate the wage of the values for labor over which stage I, II, and III occurs.
The importance of trade continues to be a topic that is debated because the gains are not always quantifiable by those involved. America: Riveting Prospects, discusses why American companies a
The demand for labor is said to be a “derived” demand. What is the meaning of a derived demand? How does this concept help to determine the demand for labor?
The economy is full employment. Now the government wants to change the composition of demand toward investment and away from consumption without, however, allowing aggregate demand to beyond full em
The land has some unknown contamination, has been stripped of natural vegetation, and has been impacted by soil erosion. A stream on the property is also polluted. You have decided to turn this land
You are told that 80 cents out of every extra dollar pumped into the economy goes toward consumption (as opposed to saving). Estimate the GDP impact of a positive change in government spending that eq
The demands and marginal revenue in two markets, 1 and 2, for a price discriminating firm along with total marginal revenue, MRT, and marginal cost MC.
The theory of market economies emphasizes freedom of choice and limited government intervention. The classic argument for government intervention is market failure - the inability of the market econ
Q1. Determine the price and output rate that will allow the firm to maximize profit or minimize losses. Q2. Determine (compute) the monopoly power of the firm.
Calculate the arc cross elasticity between Product B and Product A. Is B a substitute or complement for A? Explain. Does Product A follow the "law of demand'? Explain.
Describe the trends of two previously selected company performance variables (e.g., sales, stock pricing, net income) over the past three years. Keep in mind these are the performance variables sele
You are the manager of a monopolistically competitive firm. The present demand curve you face is P = 100 - 4Q. Your cost function is C(Q) = 50 + 8.5Q2 (That's Q squared). 1. What level of output sho
Consumers will feel that the camera with the longest warranty is high quality and that with the shortest warranty is low quality. The camera companies want to maximize the profit per camera. What's
a. What are the price and output if the firms set the price equal to the marginal cost? b. What are the profit maximizing price and output if the firms collude and act like a monopolist?
Define the type of market in which your selected product will compete, along with an analysis of competitors and customers. Analyze any comparative advantages and international trade opportunities.
Aggregate Supply and Long-run Aggregate supply curves in longrun equilibrium (all three intersect). Then for each situation show the most immediate effect of how these curves may change. Briefly exp
Question 1: Monopolistic competition differs from perfect competition because in monopolistically competitive markets:
The firm can purchase all the capital and labor it wants at prices r and w, respectively. 1) Use the method of Lagrange multipliers to find the cost function c(r,w,y). Find the average and marginal co
Markets in developed economies are approaching saturation level. Therefore, MNCs are searching for new untapped markets in emerging countries such as India and China.
a. What is the firm’s optimal output? b. What price should the firm charge? c. How much should the production division charge the marketing division for each unit of the product?
1) Find the break even point in the original situation. 2) Find the break even point after the cost change. (Round the breakeven point to a whole number.)
The United States can produce 65,000 units of clothing per year and 250,000 cans of soda. Assume that costs remain constant. For this example, assume that the production possibility frontier (PPF) i
a. Determine the marginal revenue product function. b. Determine the marginal factor cost function. c. Determine the optimal value of L, given that the objective is to maximize profits.
Determine the breakeven output and total sales revenues. Determine the output that would generate a total profit of 60,000 and the total sales revenue at that output level.