Pages 20 Two cheese plants are currently emitting 20 tons of pollution each. The marginal abatement costs for Plant 1 and Plant 2 are given by: MAC1 = 200Q1 and MAC2 = 100Q2 where Qi (i = 1, 2) represents the number of tons of pollution reduction. a. Draw a diagram illustrating the marginal abatement cost curves for Plants 1 and 2. Pages 20 b. […]
Use the following information to calculate the M1 money supply, the M2 money supply, the monetary base, total bank reserves, required bank reserves, excess bank reserves and the M2 money multiplier. Assume that the required reserve ratio for all customer deposits (checking + savings) is 20% Checking accounts: $60 Cash held by banks (vault cash) $80 Cash held by businesses and households $40 Loans $70 […]
Unemployment insurance is one of the social welfare programs that has been implemented in many advanced economies. Someone argues that the unemployment insurance should be expanded. Then others argue that expanding unemployment insurance would increase the unemployment rate. Which argument do you agree? Why? What are the causes of unemployment?
1-One reason that variable factors of production tend to show diminishing returns in the short run is that: -large firms cannot effectively manage their resources. -the cost of employing additional resources increases as firms employ more of thsoe resources. -capital equipment is often idel in the short run. -there is only so much that can be produced using additional variable inputs when some factors of […]
The Ruby Red Movie Theater in town is in jeopardy of having to close its doors because it is unable to generate enough total revenue. In an effort to generate more revenue, the movie theater manager decided to change the prices this month for drinks, popcorn, candy, hot dogs, and movie tickets. The manager would like for you to analyze the data that has been […]
What is the consequence of deflation in terms of aggregate demand?
Barb’s Bakery earned $200 in total revenue last month when it sold 100 loaves of bread. This month it earned $300 in total revenue when it sold 60 loaves of bread. The price elasticity of demand for Barb’s bread is
you are a consultant to price-setting firm (monopolist) Situation: The firm has market-pricing power and is making a hefty economic profit. But, a potential rival firm to the market could cause problems. Your job is to develop a plan that could keep the potential rival firm out of the market. Please feel free to use graphs and numbers as a part of your plan.
Currently, there is an incumbent monopoly in a market. A potential entrant may enter. The incumbent can spend X dollars lobbying to require all new firms that enter the market to use a pollution-abatement device that costs Y dollars to install. If lobbying occurs, the pollution-abatement device will be required. Draw the game tree describing this situation. Under what conditions will the monopoly lobby?
Use the Internet to research a company that is competing in a purely (or perfectly) competitive market. From the e-Activity, discuss how the company you selected should increase its competitive stance in the marketplace. Provide specific examples to support your response.
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