Ecn601 topic 8 - Study guides, Class notes & Summaries

1. Question:Indirectpricediscrimination differsfromdirectprice discriminationbecause: 2. Question:What is it called when each additional worker hired contributessuccessively smalleramountsofoutput? 3. Question:Jim has a better chance of having his offer accepted, since the seller doesnothaveanyoutsideoffers. 4. Question:For a production function with a diminishing, but positive, marginal productoflabor: 5. Question:Nashequilibriumis: 6. Question:Moralhazardimpliesthat: 7. An HVAC company i...

Problems: Chapters 7, 8, and 9 1. Individual Problems 7-3 The variety of Riverside Ranger logo T-shirts includes 12 different designs. Setup between designs takes one hour (and $15,000), and, after setting up, you can produce 1,000 units of a particular design per hour (at a cost of $5,000). Note: Assume Q denotes the quantity produced of a particular design. Which of the following best represents the average cost function for producing any single design? Based on this information, prod...

G11-2: Exchange Rate Effects on your Firm The equilibrium often entails a supply and a demand factor. Despite that a country’s currency value may fluctuate over a period, it must be noted the supply and demand for oil does not change. The petroleum industry for example is known for domestic oil refinery. The production of petroleum products within the US or globally is done with the general idea for profit for its shareholders and investors. If it can be acknowledged that a change in interest...

1. Acquiring a firm that sells a substitute good would make the demand curve for your original product ~ 2. The general rule to increase profits when two close substitute brands are jointly owned is ~ 3. After acquiring closely substitutable product brands, a firm can successfully raise prices on both of the brands without losing much of its total sales because ~ 4. Which of the following is an example of price discrimination? 5. The practice of buying a firm’s good in one market at a low ...

ECN 601 Topic 8 DQ 1 plus DQ 2

ECN 601 Topic 8 DQ 2