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Kate and Alice are small-town ready-mix concrete duopolists. The market demand function is Qd = 20,000-200P where P is the price of a cubic yard of concrete and Qd is the number of cubic yards deman
After Apple introduced its new iPhone, the price of standard cell phones rose. A consumer advocacy group that has long claimed that standard cell phone producers are colluding like a monopolist asse
Consider three markets: M1, M2, and M3. There are features of these markets that the Department of Justice observes and features the Department of Justice does not observe. The DOJ observes that M1,
Master Card has a series of cute commercials that list a series of accounting items and costs leading to a priceless product. Cell phones are often advertised as being free. In economics, it is said
Explain the difference between fixed-production technology and variable-production technology. Should the government set a goal of reducing the marginal social cost of pollution to zero in industrie
Go to the Bureau of Economic Analysis website, www.bea.gov, and access the BEA interactively by selecting "National Accounts" and then "National Income and Product Account Tables."
it's dominated by two firms, AMD and Intel. Yet price competition between those two firms is fierce, driving their profits down. Why is there greater price competition between rival computer chips t
Some games of strategy are cooperative. One example is deciding which side of the road to drive on. It doesn't matter which side it is as long as everyone chooses the same side. Otherwise, everyone
One additional advantage Microsoft has is its ability to create a variety of Vista products, some of which have more features than others. Does it make sense for Microsoft to differentiate its produ
Studies of the effects of immigration into the United States from Mexico tend to find that the big winners are the immigrants themselves. How might things change if the border were open, with no rest
a. Define the Bertrand model and its assumptions. Explain why the model predicts the perfectly competitive outcome despite the number of sellers. Discuss the limitations of the model.
Agricultural scientists are working on developing an improved variety of Roma tomatoes. Marketing research indicates that customers are likely to bypass Romas that weigh less than 70 grams.
Show the Equivalence of tariffs and quotas, This requires three graphs showing the effect of tariffs and quotas in situations of a reduction in domestic supply, a decrease in domestic demand, and an
The miracle Manufacturing company Short run Average cost Function In 1997 Is AV=3+4Q , Whwer AC is The firms Average cost ($/pound)And Q Is its output rate. A) Obtain an equation For the firms Short
In each of the following cases, in the short run, determine whether the events cause a shift of a curve or a movement along the curve. Determine which curves is involved and the direction of change.
Consider a city with a river. The city has a resort whose visitors use the river for recreational purposes. The city also has a tannery that creates industrial waste which it dumps into the river.
Mitchell Electronics produces a home video game that has become very popular with children. Mitchell's managers have reason to believe that Wright Televideo Company is considering entering the marke
Suppose the government reduces taxes by $20 billion, that there is no crowding out, and that the marginal propensity to consume is 3/4. a) What is the initial effect of the tax reduction on aggregate
a firm uses two inputs, capital and labor. in the short run, the firm cannot adjust amount of capital it is using, but it can adjust the size of its workforce. What happens to the firm's average tot
For simplicity, let's assume that every household has a marginal propensity to consume (MPC) of 0.75. If the government implements a fiscal policy involving its purchases of goods and services
Consider the argument that government spending and borrowing harms long-run economic growth. A. Is this most likely to happen if the private spending crowded out is consumption spending or investment
Consider two tax policies: a tax cut which will last for only 1 year and a tax cut that is expected to be permanent. Which policy will have the greater impact on aggregate demand Which is more likel
A. How would this impact policymakers' ability to use policy B. What would Congress be forced to do during a recession What is the mostly likely impact of the policy
Is it possible for the government budget deficit to decline at the same time as the government debt increases Why or why not Under the assumption of ‘crowding out,' how would this impact futur
Many developing countries in the "Global South" turned to socialism in the past as a means to solve their economic problems. Now, in the light of the evident failure of socialism, many of these coun