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List out the four assumptions for the Monopolistic competition model?
Assume that the Florida migrant workers are efficiently unionized. Determine the impact of the unionization on:
In other conditions it would be reasonable for a purely competitive wheat farmer to increase his price per bushel as he could decrease his variable costs by selling less at a higher price.
If the Doctor wants to maximize her profit, how many nose operations must she perform each month?
Under what conditions the energy-efficient automobile would explain here be economically proficient?
Would you instead earn a 4 % nomical or 4% real interest rate? Describe by explaining the difference between the nominal and real variables.
The actual elasticity of demand for the haircuts is 1.36 and for alcoholic drinks is 0.62. Which price must you lower? Describe.
Use a diagram to describe how each of the given events influences the equilibrium price and quantity of pizza (draw a separate diagram for each and every event).
Find out the weekly profit from the production and sale of the product.
Two monopolistically competitive firms face the similar demand and total revenue functions however face different total cost functions. These demand, total revenue and cost functions are illustrated
Assume that a highly competitive market is explained by the given supply and demand functions S = 3P = 90 and D =7910 - 5P. Assume as well that a representative firm has costs provided by C = 250 +
Illustrate out the effects of taxation on the equilibrium of firm. Write down the concise note on imperfect competition in factor market.
State the law of diminishing returns. Write down its causes and effects. Make a distinction between perfect and imperfect markets.
Use the graph to recognize and describe the gains and losses from trade with 40 % tariff rate, the tariff revenue and deadweight loss.
Show on a graph and describe how the price control in the US modifies consumer surplus, producer surplus and deadweight loss in the domestic wheat market.
If government puts a rent ceiling of $650 a month on rooms, find out the rent paid, how many rooms are rented? Is the low-cost housing market proficient? Explain why?
If the price elasticity of demand for wheat is 0.3, by how much will the price of wheat increase? Show your computation.
Describe what would happen to the market equilibrium price and quantity? Describe the changes on your graph.
Describe critically the various methods of demand forecasting.
What do you mean by marginal costing? What are its merits and demerits?
What do you mean by the term Standard Costing? Bring out clearly the relationship between Standards Costing and Budgetary Control.
Define the term budgetary control. State the benefits of budgetary control in an organization.
Describe the different properties of Indifference curve; also describe consumer's equilibrium with Indifference curve.
Determine the short run supply curve when given short run cost schedules for a competitive firm.
Write down causes of economies and diseconomies of scale. Show relationship between economies of scale and number of firms in an industry.