CHAPTER 9 OLIGOPOLY AND FIRM ARCHITECTURE 1. The demand function for a product sold by an oligopolist is given below: QD = 370 – P The firm’s marginal cost function is given below: MC = 10 + 4Q Calculate the equilibrium price and quantity. Solution: P = 370 – Q so TR = 370Q – Q2 and MR = 370 – 2Q MR = 370 – 2Q = 10 + 4Q = MC so Q = 60 and P = 310 2. The demand function for a product sold by an oligopolist is given below: QD = 135 – 0.5P The firm’s marginal cost function is given
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Contents Introduction 1 Eco city 1 Benefits of eco-cities 2 Ecological Sustainability 2 Economic Sustainability 2 Social Sustainability 2 Examples of eco cities 2 Masdar City 3 Arcosanti 3 Treasure Island 4 Challenges in transforming African cities into eco cities 4 Conclusion 5 Bibliography 5 Introduction Eco-Cities are places where people can live healthier and economically productive lives while reducing their impact on the environment. They work to harmonize existing
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McConnell‚ Brue‚ Barbiero 11th Canadian edition Microeconomics ANSWERS TO END-OF-CHAPTER AND APPENDIX QUESTIONS Chapter 1 1-3 (Key Question) Cite three examples of recent decisions that you made in which you‚ at least implicitly‚ weighed marginal costs and marginal benefits. Student answers will vary‚ but may include the decision to come to class‚ to skip breakfast to get a few extra minutes of sleep‚ to attend college or university‚ or to make a purchase. Marginal benefits of attending
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Noise in the city Steve Curwood: Modern life is full of nasty noises‚ especially in the cities. Sirens can shatter serenity at any moment and jackhammers‚ loud music‚ and useless mufflers can all send us over the edge. For many people in New York City‚ there’s one form of sonic pollution at the top of the list. They’re calling for its banning‚ even though some nervous New Yorkers savor the sound for security reasons. And as Neal Rauch reports‚ even as the controversy prompts loud debate‚ some aren’t
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know each other! .January 3‚ 2010 at 10:33amTo do this‚ go to “notes” under tabs on your profile page‚ paste these instructions in the body of the note‚ type your title as "Getting to know each other!"‚ tag 25 people including me (tagging is done in yethe right hand corner of the app) then click publish. 1. What time did you get up this morning? 0530 2. How do you like your steak? Medium. 3. What was the last film you saw at the cinema? "zombieland" right before i left 4. What
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Case in the news: Demand/Supply and Equilibrium This article is based on the fundamental idea of supply and demand of the iPhone 5 whose demand has outstripped its supply. Due to the fact that the demand is so high‚ even those who pre-ordered the new slim iPhone 5 had to wait until October to get this new phone. The sales have broken all previous records and stand tall at 2 million phones in the first 24 hours. According to the article people had been
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population density‚ population composition and lifestyle choices. While housing characteristics is define as the differences in housing such as the size‚ type and age of house. Generally speaking‚ demographic factors will result in having different housing characteristics. To illustrate this relationship‚ two suburbs‚ Stuart Park and Nightcliff from Darwin have been chosen. First of all‚ Darwin is a tropical wet and dry climate capital city of Northern Territory‚ Australia. Because it has a tropical cyclone
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Week 03 Course Paper - Supply and Demand If the price for PepsiCo brands increase so does the supply. This is because as the price increases‚ PepsiCo has an incentive to supply more to meet the demand. This creates a positive supply curve. If PepsiCo competitors can produce their products for less and sell them for less money‚ than consumers will start to purchase competitor products as substitutions (Case‚ Fair‚ & Oster‚ 2009). The demand for PepsiCo brands is the price in which consumers are
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is economics often described as the science of constrained choice? b) Explain how scarcity‚ choice and opportunity cost are relevant when choosing amongst alternatives? 2. Define the concept of “opportunity cost” and discuss various examples. 3. Explain how the concept of opportunity cost may be used to explain the following: a) Why very few petrol stations are found in the centre of large cities. b) Why it might be worthwhile for a company to contract out work even though contracting
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The city that we have built ourselves on is very organized. The Houses provide jobs‚ while the fields outside the city help produce food for the masses. Our government contains a City Council‚ who is one body representing all men collectively. Each City Council works under a Senate Council‚ and the World Council regulates our entire infrastructure‚ governing all men to help protect us from human evil. In addition‚ you can attend to many exciting events within the city. City Halls hold social meetings
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