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What is the Relevant Market? What is the Relevant Market?
What do you mean by a social welfare function? If you assume that such a function exists, what properties of social optima would be considered by you? Discuss such properties.
Suppose a company is producing 1000 units of bottled power drink priced at $5. It is using a manufacturing process with a fixed cost of $1450 and a variable cost of $2.75 per unit (AVC).
For a given price P =$5, AVC = 3 and FC =20000, what is the DOL if the manufacturer id producing 15000 units. Using the DOL value calculated above what is the profits for a 10% increase and a 10% decr
Suppose the marginal costs of production for a company is $6 at its current production levels. suppose the price elasticity of demand is constant at -2 between the prices of $10 to $15, if the current
The salary in Arizona has decreased by 3% over the last 3 months. During this time, the sale of Snickers chocolate bars has decreased by 2% and gas sales decreased by 1%.
Joshua is a true entrepreneur with businesses around the world. He makes world-renowned cakes and coordinating products. Now he has begun making clothing with a cake theme/inspiration. In addition, he
Most peaches are grown in Georgia. Today you heard that the relationship between the peach farmers and the pickers is going sour, and there will soon be no peaches available.
Firm A currently monopolizes its market and earns profits of $10M.Firm B is a potential entrant that is thinking about entering the market.If B does not enter the market,
Suppose that the market for corn is characterized by many small farmers/firms who have no impact on the final price of corn. The market demand for corn has been estimated to be
The demand for milk is given by Q=120,000-20,000P. a. What is the equilibrium quantity of milk if the market price is $3.00? b. What is the equilibrium quantity of milk if the market price drops to $2
Graph the demand curve for QY. You may use prices for Y of 2, 4, 5, and 10 as a guide. (You can use these four points as a guide to get a reasonable approximation for the rest of the demand curve.)
Suppose that you work for a nonprofit that promotes locally sourced agriculture. Your boss has tasked you with determining the equation for the market demand for broccoli. He or she states that you ma
Assume that a purely competitive firm is selling 2000 television sets a day at a cost of $90,000. Assume that if the firm sells 1600 units per day, its total cost would be $60,000, and if it sold 1000
Choco Delite is a manufacturer of fine chocolates. It's monthly rental expense is $1,000,000. It has 2 million in fixed labor costs. Its marginal costs are $.70 per chocolate bar
Does the government pricing mandate satisfy the Kaldor-Hicks Criterion relative to thestatus quo? Is the government pricing mandate Pareto superior to the status quo? (Usechanges in consumer and produ
Opportunity cost – faced by any company or country or government in choosing something and leaving other alternates For example – delay in setting up broad band in Australia or not buildin
Use the following outline to make a 6-8 page paper on Israel'seconomy from a cross cultural prospective.make it astraightthrough essay it does not need to beusing the outline titles for each section
My term paper will be about oligopoly market where the market in oligopoly situation is dominated by few number of sellers and would lead to a higher prices for consumers for the product or service th
Suppose there is a tax cut, holding constant government purchases and all other factors affecting the AD curve. Illustrate the short run effects on output and the price level and LABEL them.
In working out your responses to the Discussion Question, you should choose examples from your own experience or find appropriate cases on the Web that you can discuss. Credit will be given for refere
A policy that results in a Pareto superior outcome will always satisfy the Kaldor-Hicks Criterion; however, it may not increase social welfare.
You are the manager of a small pharmaceutical company that received a patent on a new drug three years ago (patents in the U.S. are valid for 20 years). Despite strong sales ($125 million last year) a
Explain how each of the following will affect the demand for computers:(i) a rise in incomes,(ii) an expected drop in the price of computers,