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Elucidate how the marketplace will adjust in the long run and draw a corresponding graph for the representative firm in the long run.
Assume that Florida migrant workers are effectively unionized. Illustrate what will be the impact of the unionization.
In a monopolistically competitive marketplace, company that innovate successfully can increase their economic profits and lock in higher market shares over the long run.
The government imposes a fixed tax of $20 on the profits of the company. Would this tax affect the decisions of the company in the short-run and long-run.
Describe the profit-maximizing prices both firms will charge. Compute the price-cost margin for each firm and indicate which has more pricing power and why.
If the cost of manufactured goods increases to $6 a bushel (a rise of 50%), the parity price of corn also rises by 50% - to $4.50 in this hypothetical example.
Describe the optimal weekly output and price of this firm. Describe the weekly profit from the production and sale of this product.
Two monopolistically competitive company face the same demand and total revenue functions but face different total cost functions.
Compute the variance and standard deviation of the expected value from each project. Compute the coefficient of variation of each project, and determine which project should the company choose.
Elucidate when a recession is over, do people begin to immediately feel the effects of an efficient economy. Use the experience of the most recent recession.
Explaining the relation between macroeconomic variables. Discuss the relationship among each of the following variables based on the experience of the U.S. economy over the past 30 years.
Under the assumption of profit and maximization, explain how much output should the representative firm produce. Are profits positive? Should the firm stay in business.
terrorist attacks on the World Trade Center also the Pentagon affected short- or long-term productivity in the United States. Explain your response and show any movements in the PPF.
Illustrate what is the profit-maximizing price and output. What is the total profit. What is the price elasticity of demand at the profit maximizing output.
Utilizing the Lerner index, find out the price elasticity of demand for Botox and interpret what this value means to total revenue if the price of Botox were increased one percentage point.
Compute the Cournot-Nash equilibrium for each firm, assuming that each chooses the output level that maximizes its profits when taking its rival's output as given.
Describe the consumers' surplus if the wholesale price is set at $16. The supply function is. Describe the producers' surplus if the wholesale price is set at $19.
Bubba Burgers has discovered there are economies of scope available to the restaurant. Elucidate which is most likely to be a response to this discovery.
Assume that a price support system for cotton needs the federal government to pay farmers to not plant cotton.
Illustrate what is the profit-maximizing price-output combination and what are the levels of profits and consumer surplus at that point.
Find the short-run supply curve of the firm and the marketplace. What is the price, quantity, profit/loss for each firm. Is this industry in the long-run.
Elucidate the production possibility frontier and opportunity cost.
Thailand can produce a bushel of wheat in 12 hours and a cd player in 2 hours. According to the law of comparative advantage , who should produce wheat and who should produce Cd palyer. Calculate al
Examine the changes in equilibrium price and quantity. Events affects the equilibrium price also quantity of pizza.
Assume you own a barbershop/saloon. You are prefering lowering the price of either haircuts or alcoholic drinks. The real elasticity of demand for haircuts is 1.36 and for alcoholic drinks is 0.62.