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A profit seeking monopolist has three choice variables: output level q, marketing intensity m, and newequipment e. The cost of producing q units of output is cqe, where c > 0 is a constant. Equipment ispurchased in a competitive market at the price r. The cost of marketing intensity level m is h(m, ?), where? is parameter and h is increasing in both of its arguments. The maximum price at which q units of outputcan be sold with marketing intensity m is P(q, m), where Pq 0. (Subscripts denote partialderivatives.) a. Assume here and below that hm? > 0. Interpret this condition and give a possible economic interpretationfor the parameter ?. b. Under what condition on P does higher marketing intensity increase marginal revenue? From now on,assume that this condition holds. c. Suppose that in the short run, the amount of new equipment, e > 0 is fixed. How do the firm's shortrun choices of output level and marketing vary depending on the parameter ?? depending on e? Be asspecific as possible and interpret your conclusions. d. In the long run, the firm is free to choose any nonnegative levels of q, m and e. How does the firm'slong run choice of e vary depending on ?? Interpret your conclusion. e. Compare the short and long run responses of q to a change in ?. Interpret the comparison. f. Show how the firm's long run profit changes in response to changes in r. Does the answer depend on ??If so, in what way. Interpret the results. This answer requires very little computation (why?).
General Electric paid its line workers $10 per hour last year when the Consumer Price Index was 100. Suppose over the past year that deflation occurred and the aggregate price level fell to 80.
QUESTION: "XYZ Company is aware that macroeconomics plays a general role in its organization's success. Top-level management has asked you to conduct research, and then write a report on specifically what role it should play in its overall success. Management has asked for information on the following as it relates to the organization: Aggregate demand and aggregate supply, macroeconomic measurements, and supply and demand." I just would like other perspectives on this please.
Hello, Explain the following in macroeconomics; History of macroeconomics Macroeconomics factor Macroeconomic swap
which of the following statement best summarizes Friedman's view of how expectation of inflation are formed? 1. the expected inflation rate adjusts gradually to changes in the actual inflation rate with greater weight given to the most recent changes in the inflation rate 2. an increase in the actual inflation rate leads to a rapid acceleration in the expected inflation rate 3. the expected inflation rate adjusts rapidly in response to new information about changes in monetary policy 4. a change in the expected inflation rate equals the most recent change in the actual inflation rate 5. the expected inflation rate adjusts quickly to changes in the actual inflation rate with greater weight given to the more distant changes in the inflation rate
A person is in the labor force if any one of the following statements is true except that he or she is? ______. A. without? work, willing to? work, and has made specific efforts to find a job within the previous four weeks B. working at either a? full-time job or a? part-time job C. without? work, willing to? work, and is waiting to start a new job within 30 days D. aged 16 and over and not in? jail, hospital, or some other form of institutional care
What does efficiency wages contribute to structural unemployment but not the natural rate of unemployment. b. structural unemployment and the natural rate of unemployment. c. frictional unemployment and the natural rate of unemployment. d. frictional unemployment but not the natural rate of unemployment.
Hi, I am looking for some support understanding how to approach this brief homework assignment.
What is the Taylor Rule? Is the Taylor Rule a tool of active policy or passive policy? Have Janet Yellen and the FOMC followed the Taylor Rule recently? Have Janet Yellen and the FOMC implemented active policy or passive policy? Please reference and use real world examples (statistics/articles)
For each of the following explain why the supply curve shifts and if the supply increases or decreases. What happens to the supply curve for pizza is the price of San Marzano tomatoes increases? What happens to the supply curve for beef if producers expect the price of beef to fall in the future? What happens to the supply curve for Televisions if new technology makes TVs cheaper to produce? What happens to the supply curve for Cell Phones if new competitors enter the market?
Suppose the money demand in an economy in which no interest is paid on money is Md/P=500+0.2Y-100i P=100,Y=1000 and i=0.10 find real money demand
The market for nutmeg is controlled by two small island nations, Penang and Grenada. The market demand for bottled nutmeg is given by P = 100 ? qP ? qG, where qP is the quantity Penang produces and qG is the quantity Grenada produces. Both Grenada and Penang produce nutmeg at a constant marginal and average cost of $20 per bottle. Suppose that Grenada transforms the nature of competition to Stackelberg competition by announcing its production targets publicly in an attempt to seize a first-mover advantage. How much output should Grenada announce it will produce as the Stackelberg leader? 45 40 35 30
Everything else being the same, what is the effect of an increase in interest rates on the price level? Discuss the process of adjustment to the new equilibrium
Suppose the Reserve Bank sells $50 million of government securities to Bank A. Explain and show the effect of this action on the balance sheets of the Reserve Bank and Bank A.
The short-run aggregate supply curve (AS) is upward sloping because: an increase in the aggregate price level will cause an increase in the interest rate and a reduction in output. a reduction in the aggregate price level causes a reduction in nominal money demand and a reduction in the interest rate. an increase in the nominal wage causes a reduction in the amount of output that firms are willing to produce. an increase in output causes an increase in employment, a reduction in unemployment, an increase in the nominal wage and an increase in the price level. When the price level is equal to the expected price level, we know from our theory that: everyone who wants a job is working. the goods market is in equilibrium. the unemployment rate is equal to the natural rate of unemployment. both the price level and the expected price level are equal to one. financial markets are in equilibrium. The natural level of employment will increase when which of the following occurs? an increase in the markup of prices over costs an increase in unemployment benefits an increase in the actual unemployment rate all of the above none of the above