QUESTION 8 - 9.3

Patents represent what type of barrier to entry?

QUESTION 9 - 9.3

Which of the following is NOT a barrier to entry?

QUESTION 10 - 9.3

Suppose there are four firms that produce gluten-free breakfast cereal and each firm has 25% of the market share. What is the HHI for this market?

QUESTION 15 - 10.2

What strategy do cartel members use to coordinate their actions without using a formal agreement?

Squeaky Clean and Biobase are the only two producers of chlorine for swimming pools. The market demand for chlorine is P=32-2Q, where Q is measured in tons and P is dollars per ton. The corresponding marginal revenue curve is MR=32-4Q. Assume that chlorine can be produced by either firm at a constant cost of $16 per ton. 1) If the two firms collude and act like a monopoly, agreeing to evenly split the market, how much will each firm produce and what will the unit price be? How much profit will each firm earn? 2) Does Squeaky Clean have an incentive to cheat on this agreement by producing an additional ton of chlorine? Explain. 3) Does Squeaky Clean’s decision to cheat affect Biobase’s profit? Explain. 4) Suppose that both firms agree to each produce 1 ton more than they were producing in part (1). How much profit will each firm earn? Does Squeaky Clean now have an incentive to cheat on this agreement by producing another ton of chlorine? Explain.

Question 9 (1 point)

Which change would by itself allow for more investment in a country?

Question 9 options:

what is the community of practice for organization ?

and what are differences between it and the project team ?!

Consider the standard Solow model with saving rate is 30%, and depreciation rate is 5%, Cobb-douglas production function with A = 1, α = 0.3.

Suppose initially the economy is at the steady state. If we increase the saving rate from 30% to 50% once for all.

Plot the first 20 periods of the following after the change:
• capital sequence • output sequence • consumption sequence

show what happens if Islandia opens up to international trade and finds out that the world price for textiles is lower than the domestic price.

•Draw the diagram, labelling carefully and accurately and showing quantities before and after and amount of exports or imports

•Show a table with Consumer Surplus, Producer Surplus, Total Surplus and the ∆ both before trade and after trade

•State what happens to producers and consumers in terms of being better or worse off

Due to higher prices, an inflation would increase the consumption in absolute amount, which results in higher consumption tax. What do you think about this? Do you agree?

Cindy gains utility from consumption C and leisure L. The most leisure she can consume in any given week is 80 hours. Her utility function is: U(C, L) = C(1/3) × L(2/3).

a) Derive Cindy’s marginal rate of substitution (MRS). Suppose Cindy receives $800 each week from her grandmother––regardless of how much Cindy works. What is Cindy’s reservation wage?

b) Suppose Cindy’s wage rate is $30 per hour. Write down Cindy’s budget line (including $800 received from her grandmother). Will Cindy work? If Cindy works, how many hours does she work?   

Covid-19, without a doubt, has exposed the many inequalities and inefficiencies which exist in the United States. One of those being access to high speed internet. With nearly all educational institutions moving to remote/ distance learning and many individuals working from home, the question becomes:

1. Should internet be treated as a public utility? Explain.
2. What are the pros and cons?

Please cite all sources used to support your response.

1. In this question, you'll have to solve for price elasticity of demand using the percent change formula.

When the old price of a food package was $6.92 per package, the old quantity was 822 packages were sold each day. After the price increased to the new price $10.05 per package, sales dropped to a new quantity of 449 packages per day. Using these numbers, what is the price elasticity of demand for food packages? Round your answer to 3 decimal places.

2. In this question, you'll deal with two goods, and you'll have to solve for cross-price elasticity using the percent change formula.

2A. When the old price of a file cabinet was $1,333 per cabinet, an old quantity of 227 desks were sold. After the price decreased to a new price of $935 per file cabinet, a new quantity of 426 desks were sold. Using these numbers, what is the cross-price elasticity of file cabinets for desks? Round your answer to 3 decimal places.

2B. Based on your answer to the above question, what is the relationship between file cabinets and desks?

A. substitutes

B. complements

C. unrelated goods

Dave's income increases by 23%. As a result, his consumption of burritos increases by 31%.

3A. What is Dave's income elasticity for burritos? Round your answer to three decimal places.

3B. Consider your answer for the previous question. Dave considers burritos to be

A. a normal, necessity good

B. a normal, luxury good

C. an inferior good

D. a substitute good

E. a complement good

F. a sunk cost

4. The price of a combo meal at Lion Restaurant is $5.

When Axel had an old income of $12,000 his old demand for combo meals was Q = 200 - 4P.

When Axel had a new income of $24,000 his new demand for combo meals was Q = 560 - 4P.

What is Axel's income elasticity for combo meals at Lion Restaurant? Round your answer to 2 decimal places if necessary.

If the USA continues to increase its federal budget deficit, what effect will this have on the U.S. dollar and why? What will be the effect on the balance of trade and why? Explain.

what is the effect of transportation sector in corona virus

a) Write out the equation that describes the Quantity Theory of Money. Must indicate clearly what each variable in the equation means in order to earn full marks . Based on the equation, predict what would happen to inflation in the long run:

b). if the growth rate of the velocity of money is zero and money supply grows at a faster rate than real GDP growth rate. You may use some hypothetical numbers to illustrate your answer (1.5 marks)

c). if the growth rate of the velocity of money is zero and money supply grows at a slower rate than real GDP growth rate. Use some hypothetical numbers to show (1.5 marks) d). Based on these two scenarios (b and c) and the quantity theory of money as stated in this question, what would be a good monetary policy for the economy in the long run?