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Supply and Demand

Perfect competition and the Monopoly; Monopolistic competition & the Oligopoly; Supply and Demand of Labor; Distribution of Income; the Balance of Payments and Exchange Rates; International Trade

1. Perfect competition and the Monopoly a. In what ways is the monopoly different from perfect competition? In what ways are they alike? Discuss explaining the conditions necessary for each of these market structures. b. How and why can the monopoly engage in price discrimination? Give examples. 2. Monopolistic compet

Long Run costs and Output Decisions

See the attached file for complete solution. The text here may not be copied exactly as some of the symbols / tables may not print. Thanks 1. The following problem traces the relationship between firm decisions, market supply, and market equilibrium in a perfectly competitive market. a. Complete the following table for a

Local Currencies

About 30 U.S localities circulate their own currency with names like "Ithaca Hours" and Dillo Hours." Doing so is perfectly legal (although by law they are subject to a 10 percent federal tax, which currently the government is not collecting). These currencies are used as payment for rent, wages, goods, and so on. Are these c

Macroeconomic Study Questions: Quantity Restrictions

1. According to the text, economics is the study of how: A) governments allocate resources in the face of constraints. B) government policies can be used to meet individuals' wants and desires. C) human beings coordinate their wants and desires in the face of constraints. D) scarce resources are allocated to their mo

Airline Industry Analysis

Prepare a paper analyzing the current market conditions of the Airline industry including a supply and demand analysis that answers these questions: 1) Is supply increasing or decreasing and why? 2) Is demand increasing or decreasing and why? 3) Price trends (cost of productions) Include references and citat

Managerial Economics - Optimal output and price

Please see attached file for complete questions. The locust corporation is composed of a marketing division and a production division. The marginal cost of producing a unit of the firm's product is $10 per unit, and the marginal cost of marketing it is $4 per unit. The demand curve for the firm's product is P=100-0.01Q

Question about Market Concentration

PART 1 Select any company and think about its buying and selling activities -- everyone buys and sells, or at least "procures" and "supplies", or otherwise participates in exchange transactions. Please address the following questions in a 2 page double spaced paper 1. Who are the organization's' clients/customers? What pr

Supply and Demand

Northern Granite company, a company in New England, installs granite counter tops in homes. When it first entered the business, the price per foot for installing a granite counter top was $180 per square foot, and Northern Granite was making substantial economic profits. However, the market price for installing kept falling as c

Cost Curves in Perfectly Competitive Firms

Catfish farming in Louisiana is a perfect competition industry. Hence, consumers of catfish are getting their catfish at the minimum cost per unit of producing catfish, and they are very happy. However, it turns out that farming catfish in ponds is producing substantial pollution run off of foul water into nearby creeks and rive

The Demand and Supply Curves

The demand and supply curves for T-shirts in LA, Ca, are given by the following equations: Q= 24,000 - 500P Q= 6,000 + 1,000P where P is measured in $ and Q is the number of T-shirts sold per year. a. Find the equilibrium price and quantity algebraically. b. If the tourists decide they do not really like T-shirts

Suppose a market is characterized by a unionized and a non-unionized sector.

Suppose a market is characterized by a unionized and a non-unionized sector. Both sectors initially have supply given by Q=10,000+25w, and demand by Q=20,000-10w, where w is the weekly salary. Find the initial equilibrium wage and labor utilization. Now, in the unionized sector, a wage of 300 is negotiated. What is the dem

Aggregate supply and aggregate demand

Using aggregate demand, short-run aggregate supply, and long-run aggregate supply curves, explain the process by which each government policies will move the enconomy from one long-run macroeconomic equilibruium to another. Illustrate with diagrams. In each case, what are the short-run and long-run effects on the aggregate price

Assume the banking system is in reserve equilibrium.

Assume the banking system is in reserve equilibrium. The Fed conducts an open market purchase of Treasury securities in the amount of $1 billion. The reserve requirement against deposits is 10%. Identify the potential amount of the money supply increase as a consequence of the Fed's action and describe fully how money is crea

Apple Inc

I need to do research on the Apple company for an example of what will be on the real test. Basically I choose Apple because the organization that will be used is almost like it in a round about way. So here is what I need help with. I need to find the issues or opportunities that the organization faces. (Apple being the organ

Optimal Output and Marginal Product of Workers

Q-3 Input Factors You have been hired to manage a small manufacturing facility which has cost and production data given in the table below. Total Total Workers Labor Cost Output Revenue 1 $500 100 $700 2

money supply and demand curves

Please see attached file. 1. During the fourth quarter of 1993, real GDP in the United States grew at an annual rate of over 7 percent. During 1994, the economy continued to expand with modest inflation ( Y rose at a rate of 4 percent and P increased about 3 percent). At the beginning of 1994, the prime interest rate ( the in

Shifts in the Aggregate Supply Curve

Suppose that the Keynesian short-run aggregate supply curve is applicable to a nation's economy. Create appropriate diagrams to assist in answering the following questions: a.What are two factors that can cause the nation's real GDP to increase in the short run? b.What are two factors that can cause the nation's real GDP t

U.S. government administers two programs that affect the market for cigarettes.

1. During 2005, Orlando, Florida, was growing rapidly, with new jobs luring young people into the area. Despite increases in population and income growth that expanded demand for housing, the price of existing houses barely increased. Why? Illustrate answer with supply and demand curves. 2. The U.S. government administers two