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Explain the relationship between the demand elasticity and the excess capacity that occurs for a monopolistic competitor.
What are the assumptions of the theory of monopolistic competition? In what ways do these assumptions differ from those of the perfectly competitve model?
Using production theory as a basis, is the CEO correct in his assumption that lazy workers or ineffective supervisors are to blame for the decline in productivity?
Suppose that at price index of 154, the quantity demanded of Real GDP is 9,000 billion worth of goods and services. Do these data represent aggregate demand or a point on aggregate demand curve? Exp
The revenue they would earn from their new pump (given the number of firms already in the market) against the cost of buying the pump. How many firms would enter the market?
This year, all the firms in the industry are purchased by a corporate raider, who then operates the industry as a monopoly and seeks to maximize profits from the sale of computers. Which of the foll
What price-quantity combination maximizes your firm's profits. Calculate the maximum profits. Is demand elastic, inelastic, or unit elastic at the profit-maximizing price quantity combination?
When we draw an investment demand curve we hold constant all of the following except:
Determine whether each of the following scenarios best reflects features of Sweezy, Cournot, Stackelberg or Bertrand duopoly.
Explain why an upward sloping aggregate supply curve is thought to weaken the impact of a rightward shift of the aggregate demand curve generated by an increase in government spending in the short r
Assuming independence, use an appropriate formula to compute. The probability that none of the dish owners in the sample subscribes to at least one premium movie channel.
What is the equilibrium price in the corn chip market. How many corn chips will be bought by children and how many by adults? What is the elasticity of demand for corn chips for adults and for childre
Would you be willing to participate in an economy based on barter and trade? What advantages or disadvantages do you think barter or trade might have over the method of exchanging money for goods an
Jeng-Mei Chen, Inc., an upscale Manhattan restaurant, would like to generate a sales forecast based on the assumption that next year sales are a function of current income, advertising, and advertis
Assess the effectiveness of specific taxes and the lum sum taxes in reducing consumption.
Discuss the trade balance between China and the U.S. for the period of 2007 2011. In your discussion, include an analysis of the effect of such trade balance on the economies of China and the U.S
Identify three types of competition that most firms encounter other than competition from other firms in their industry in their home country.
The demand for your product has been estimated to be Qdx = 7,880 - 4Px - 2Py + Pz - 0.1M. Which goods are substitutes for X? Which are complements? Why? Graph the demand curve for X given the above in
Find the value (in goods) of a dollar. Find the total nominal money stock as measured by the Federal Reserve's definition of M1. Find the money multiplier.
Graph the consumer's Price consumption curve for prices, PX = 1, PX = 2, and PX = 3. Be sure to label your graph carefully and accurately. Graph the consumer's demand curve for X.
What are the types of business organization/ company forms, and their pros and cons (advantages and disadvantages) from an economist point of view. As you may be aware, business organization from th
What is the effectiveness of specific taxes and the lump sum taxes (a pure reduction in income) in reducing consumption
Below are quotes from each of the four students. All of the following quotes are logically correct except one. Which quote indicates incorrect economic analysis?
Suppose that wheat is the only commodity in the world. What would happen to the real exchange rate between Canada and Russia?