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Compute effective rate of protection if there is no duty on steel imports. Compute effective rate of protection if importing country imposes a20% tariff on steel imports.
On the graph demonstrate the area which represents net loss to society resulting from monopoly power conferred by patent.
Would you consider the approach incompatible with long run profit maximization? Describe why or why not.
Thereby allowed them all to drastically decrease their costs (and thus increasing profits) without fear of losing ground to each other? Describe the answer in both cases.
Find the optimal level of pollution? At this level of pollution. Find the marginal cost of pollution control?
Will homeowner retrofit the house, and which insurance policy will homeowner purchase? Will insurance company make a profit (on average) given homeowner's choice?
If riskiness () of the investment equals 3, what risk premium does require? In computing present value of future profit from this investment, what interest rate must be used?
There is some uncertainty about auction design which will be used, so you should propose the optimal bidding strategy for the given auction designs.
If Pizzo's firm's marginal cost curve is 2.96Q_b, where Q_b is output of his firm, at what output level must he operate to maximize profit?
If Boca Raton Company has only one rival, and if its rival too makes such announcement, does this change payoff matrix? If so, in what way?
The Xerxes Company is composed of the marketing division and production division. Find the optimal output for production division?
Ann McCutcheon is hired as the consultant to the firm producing ball bearings. What price must managers charge in each market?
If Wilson Company spends $200,000 on advertising, find the marginal revenue from the extra dollar of advertising?
According to chief engineer at Zodiac Company, Q=AL^aK^B, where Q is output rate. Does output per unit of labor depend only on a and B? Why or why not?
The firm's marketing manager responds with the memo pointing out that price elasticity of demand for firm's product is about -0.5. Find this fact relevant?
Explain the equilibrium price of wheat? Find the equilibrium quantity of wheat sold? Must actual price equal equilibrium price? Why or why not?
What occurs if during one hour Syldavia Aluminum Company consumes only 100MWh and pool price is 13 $/MWh?
Under what market structure would you categorize airline industry in USA? Perfect competition, pure monopoly, monopolistic competition or oligopoly? Justify the answer.
Why do points on the utility possibility curve represent efficient allocations of resources? Why should utility possibility curve be downward sloping?
The state experienced economic growth. Describe how rate of inflation would change if the state experienced economic growth.
Find Which principles of economics apply? Select from each of the areas: decision making, interaction, and how economy works.
How do fixed costs play the role in the analysis? Write down the difference between shutting down and going out of business?
Guitars cost= $100 each, trumpets cost= $150 each, and Jason has income of= $2,000. Find combination of guitars and trumpets that would maximize Jason's utility?
Develop the overall index of resource reliance by adding together energy depletion, forest depletion, and mineral depletion (all measured as percent of national income).
Explain the major complexities that would arise under expansion via capital projects. Suggest key actions that company could take to prevent or address these complexities.