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How does competition affect profits and prices? What causes some firms to enter an industry, and others to leave it? What are the effects on profits and prices of new firms entering and old firms leaving?
Microeconomics, Economics
Question - Janice really likes potatoes. At best any other goods are worth less than a dollar to her, potatoes cost $1.00 per pound, and she has $6.00 that she could possibly spend on potatoes or other items. Suppose she ...
Question - a. If the price elasticity of demand is given by the expression E(p) = -p 2 /(p 2 + 3p + 2). Find the demand function q D (p) given that q D (1) = 8. b. A consumer has $100 to spend on two commodities X and Y. ...
Discuss various means by which Island Governments in the South Pacific can institute reforms with respect to Government Trading Enterprises for maximum gains to both productive and allocative efficiency.
Question: Suppose that twenty-five years ago a country had nominal GDP of $1,800, a GDP deflator of 150, and a population of 100. Today it has nominal GDP of $2,800, a GDP deflator of 270, and population of 180. What hap ...
Question: Assume that you are an economic advisor and your focus is on understanding the different types of exchange rate systems. You have been hired to understand the shifts in monetary policy and their influence on mo ...
Question: Assume a firm has an inaccurate or inadequate performance measurement system. What types of decision errors might this cause the firm to make? Be specific, using personal workplace examples if you have any. The ...
Question: This question is about the Baumol-Tobin model. For this question, state your answers in terms of income (Y), money holdings (M), interest (i), Number of trips to the bank (N), and cost of trips to the bank (F) ...
Question: A friend convinces you that she has a great idea for a business, and the two of you incorporate. You supply her with funds and let her make all of the executive decisions. Under the agreement you hold 30 percen ...
Question: Assume that X is produced in a perfectly competitive industry where firms that currently operate and potential competitors both have identical cost curves. Current output is 1 million units a year. What happens ...
Question: Please develop a concise-but-thorough PowerPoint presentation on "The World Bank" that does not exceed five (5) slides. Slide 1: Title Slide with narration explaining the purpose of the organization or trade ag ...
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Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate
Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p
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