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Assume that firm #1 is the Leader. For this firm, calculate von Stackelberg profit maximizing level of output. Calculate the market price in von Stackelberg equilibrium and compare it to the Cournot
If CS knew JL were going to build 100 units of capacity, how much would CS want to build If CS knew JL were going to build x units of capacity, how much would CS want to build (that is, what is CS&i
Assume that two firms merge. E.g., Firm 1 decides to buy Firm 2 and shut it down. Assume that the merger does not change marginal costs. Calculate Cournot-Nash equilibrium profits for each active fi
Discuss how the two cases illustrate the major theme of this text: Changes in the macro environment affect individual firms and industries through microeconomic factors of demand, production, cost,
With the unemployment salary at an hourly rate of $7.25 do youbelieve that this helps our economy, does it hurt oureconomy Should it be higher as there are other states andcountries that have a high
Discuss the role of corruption in the modern economy. Give specific examples of instances of corruption duringa) S&L crisis and the recession of 1991 b) Enron and the recession of 2001 c) Subprime
The demand for a product can change due to manyfactors. Distinguish between a change in demand and a change inquantity demanded. What are the determinants of demand What arethe determinants of suppl
You are asked to propose a strategy tobring the economy out of recession. Your goal is to avoid inflationand yet bring the economy to full employment as rapidly aspossible. What will be your main st
The quantity theory states that the impact of money on nominal GDP can be determined without details about the aggregate demand curve, so long as the velocity of money is predictable.
After reading the newspaper Homer Simpson embarks on thefollowing get-rich-quick scheme: he borrows money from aSpringfield bank at 8% and deposits it in a Shelbyville bank at12%, expecting to make
An economy is in long-run macroeconomic equilibrium when each of the following aggregate demand shocks occurs. What kind of gap-inflationary or recessionary-will the economy face after the shock,
Consider the markets for DVD movies, TV screens, and tickets atmovie theaters. For each pair, identify whether they arecomplements or substitutes: 1) DVDs and TV Screens - compliments;2) DVD and mov
The condition states that, for a currency devaluation tohave a positive effect on trade balances, the sum of priceelasticity of income ( in absolute value ) must be greater thanone.
"When analyzing demand and supply, it is important todistinguish between the short run and the long run. In other words,if we ask how much demand or supply changes in response to a changein price
What is the percentage of this problem a country has a population of 2,130,819, and another country's has a population of 11,862,740 what is the percentage when you compare the two countries
If there is an increase in the price ofrice, what will be its impact on the market equilibrium Show graphically. E. If government imposes tax on wheatproduction, what will be its impact on market equi
The state of Maine has a very active lobster industry, whichharvests lobsters during the summer months. During the rest of theyear, lobsters can be obtained from other parts of the world but ata muc
Write your individual answers to both questions listed above together not each minimum 300 words in essay format in APA style
Why would cash transfers typically be preferred by recipients over in-kind transfers? Why would cash transfers typically be preferred by recipients over in-kind transfers?
If the product is only a small part of your budget, it does not make that much difference if the price increases a little. But if it is a large part of your budget, like gasoline, it can make a big di
Determine the cost of ending work in process inventory and of the units transferred out to the next department.Prepare a cost reconciliation schedule for the month.
Keynes is famous for saying: "In the long run we are all dead". How long is the long run? How long are you willing to wait for inflation to ease or for unemployment to improve?
Select two companies whose product(s) you use in your daily life. You may choose anyfirms you wish, as long as their information is publicly available(as to their products and financial information)
Suppose that the economy is currently at potential output.Also suppose that you are an economic policy maker and that acollege economics student asks you to rank, if possible, your most preferred to
A local drama company proposes a new neighborhood theater in SanFrancisco. Before approving the permit, the city plannercompletes a study of the theater's impact on the surrounding community.