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What is the short-run supply curve for each firm in the industry? What is the short-run supply curve for the industry as a whole,Qs?
Krispy Kreme lowers its price of glazed doughnuts by 20%. The demand for Dunkin Donuts glazed doughnuts will change by what percentage and in what direction?
what would the subgame perfect equilibrium be if the first mover was capable of selling his capacity after the second mover decides to enter/stay out?
If Jimmy is a single-price monopoly, at the profit maximisation output, is the market efficient? Explain. Suggest two methods Jimmy can use to increase his sales and profit. Explain your answer.
Consider an AD overage of $200 billion, creating an inflationary/expansionary gap. Suppose the MPC is .8 How could the government close this gap with tax policy (be specific about size and direction.)
Suppose that we, as consumers, have the option of having an AIDS vaccine produced by a monopoly or of not having the vaccine produced at all. Under which option would be better off? Why?
Assuming that consolidated is required to charge the same price in each market, what are the profit-maximizing price and output levels? What is Consolidated Company's total profit under this conditi
Assume a firm is a monopsonist that can hire its first worker for $6 but must increase the wage rate. What will be the wage rate under monopsonistic conditions? What will be level of employment under
Has the U.S. economy experienced inflation or deflation during recent recessions? Explain. Can the inflation and unemployment trends during the Great Depression be explained by movement along a short-
She prices loaves of bread at $3.50 per loaf. Suppose near the end of one day Betty still has 12 loaves of bread on hand. Which of the following is correct?
Consider a monopsony employer in a labour market. Explain how a union in this labour market might simultaneously increase the wage rate, employment and led to allocative efficiency.
How much will the owner of the Jetty have to compensate Princess Cruise Lines with a rule of Strict Liability with Dual Contributory Negligence. Show your work.
What happens to each of these values if the central bank changes the reserve requirement ratio to 3%, banks still want to hold the same percentage of excess reserves, and banks don't change their ho
Assume the market supply curve is S(P) = 30P and the market demand curve is D(P) = 500 - 20P. How much are producers willing to pay in order to get their legislators to remove the price ceiling?
Forecast the index for 1998 using a three-year and a five-year moving average. Which of your estimates is better if the actual index of housing starts in the United States for 1998 is 163?
Compute the demand for money for each of the following interest rates when income is equal to $11,940, $12,000, $12,120, and $12,1280.
If markets have multiple equilibria, some may be more desirable than others, and public policy may help attain the desirable ones. Explain using the example of multiple equilibria in the labour mar
Suppose also that the price of cigarettes, the income of consumers, and the price of alcohol all increased by 10%. Calculate how much the cigarettes will change a) in the short term run b) in the lo
Threee individuals consume a public good, and their demands are expressed as:The marginal cost of providing the service is given as a constant $5.00 per unit. Determine the efficient level of output
Derive the domestic price, the quantity processed by domestic oil refiners, and the amount of imports at the competitive equilibrium. Now suppose that domestic crude oil suppliers face a price ceili
What price will the monopolistically competitive firm charge in this market? How much profit will the monopolistically competitive firm earn in this situation?
During periods of hyperinflation money does not hold its value long enough to make everyday market purchases, therefore people hold as little as possible for asshort a time as possible.
Always wanting to consume 1 unit of X for every unit of Y. Illustrate diagrammatically the set of allocations that are Pareto preferred to the initial allocation.
Forecast the index of housing stats in the United States in 1998 by exponential smoothing with w=0.3 and w=0.7. Which of these forecasts gives a better forecast for 1998? Which gives a better forecast
Forecast the index for 1998 a three-year and a five year moving average. Which of your estimates is better if the actual index of housing starts in the United States for 1998 is 163?