The "deadweight losses in the food and tobacco industries" application shows that the deadweight loss as a fraction of sales varies substantially across industries. one possible explanation is that the number of firms (degree of competition) varies across industries. show how the deadweight loss varies in this market as the number of firms increases from one to three. recall that demand is qequals339minusp, with a constant marginal cost of $147. further, recall that the price with one firm is $243 (and market output is 96) and that the price with three firms is $195 (and market output is 144).
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Business, 22.06.2019 11:50, tre9990
The smelting department of kiner company has the following production and cost data for november. production: beginning work in process 3,700 units that are 100% complete as to materials and 23% complete as to conversion costs; units transferred out 10,500 units; and ending work in process 8,100 units that are 100% complete as to materials and 41% complete as to conversion costs. compute the equivalent units of production for (a) materials and (b) conversion costs for the month of november. materials conversion costs total equivalent units
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Business, 22.06.2019 21:20, danielahumajova6
In a market economy, supply and demand are important because theya. (i) play a critical role in the allocation of the economy's scarce resources. b. (ii) determine how much of each good gets produced. c. (iii) can be used to predict the impact on the economy of various events and policies. d. all of (i), (ii), and (iii) are correct.
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Business, 22.06.2019 22:00, ethanw8973
Which of the following is a function performed by market prices? a. market prices communicate information to buyers and sellers. b. market prices coordinate the decisions of buyers and sellers. c. market prices motivate entrepreneurs to produce those products that are currently most desired relative to their costs of production. d. all of the above are functions performed by market prices.
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The "deadweight losses in the food and tobacco industries" application shows that the deadweight los...
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