Demonstrate supply and demand analysis
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The Crafter Company had the following assets and liabilities as of December 31, 2012:
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In developing countries, there are long lines of taxis at airports, and these taxis often wait two or three hours. What does this tell you about the price in that market? Demonstrate with supply and demand analysis.
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In the mondel of a dominant firm, assume that the fringe supply curve is given by Q = -1 + 0.2p, where P is market price and Q is output. Demand is given by Q = 11-p. What will price and output be if there is no dominant firm?
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