Monopolistic competition and oligopoly
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1. If Redstone wanted to minimize average total cost, it would produce how many units? 2. If Redstone wishes to maximize profit MARGIN, it should produce how many units.
If consumer incomes increase to $30,000, what will be the new equilibrium price and the new equilibrium quantity?
Question 1: What are the conditions for a perfectly competitive market? Question 2: What are the conditions for a monopolistic market? Question 3: What are the conditions for a monopolistic competitive market?
Describe the supply and demand shifts that are occurring for this firm. What recommendations do you have for Speedy to offset the impact of their increasing costs? What recommendations do you have for Speedy to increase their total revenues?
Why is there so much advertising in monopolistic competition and oligopoly? How does such advertising help consumers and promote efficiency? Why might it be excessive at times?
Q1. What is the equilibrium price and quantity? Q2. Draw the demand and supply curves. If this represents perfect competition, are the curves individualfirm or market curves? How is the quantity supplied derived? Q3. Show the consumer surplus. Sho
Problem: Explore the different measures of the money supply, and explain why the different definitions are important.
Please explain. What do you think will occur to the price of marijuana if its purchase and sale are legalized? Be specific as to changes in the supply and demand curves. Personal opinion welcome.
What is the discount rate in the banking system, and explain how the Fed manipulates this rate in order to achieve macroeconomic objectives.
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