Economics of Enterprise Answers

1.   Is it reasonable to expect firms to take actions that are in the public interest but are detrimental to stockholders? Is regulation always necessary and appropriate to induce firms to act in the public interest? Substantiate with real world examples

Describe the nature of the goods produced by a monopolistically competitive firm.

May i please have a more detailed explanation, the question is 15 marks.

Expalin how influence market /price regarding the surgeon general announce that eating oranges lowers the risk of heart attack

A project team has put together a plan for grand organizational transformation project, and forwarded the same for the approval of the stakeholders. The stakeholders, having reviewed the project plan, asked the project manager to clearly demonstrate and present the project inputs, outputs, outcomes, and impacts in order to expedite the approval process. Assuming that you are the Project Manager in charge seeking the approval of the stakeholders. A. Outline the possible inputs, outputs, outcomes, and impacts of the project (5 points). B. Identify the key stakeholders and then draw a role map diagram showing the influence and reporting relationship (5 points). C. What do you recommend in order to build stakeholder participation and commitment to the project? (5 points).

Suppose rocking-chair manufacturing is a perfectly competitive industry in which there are 1,000 identical firms. Each firm's total cost is related to output per day as follows: 0 $500 5 $2,200 1 $1,000 6 $2,700 2 $1,300 7 $3,300 3 $1,500 8 $4,400 4 $1,800

1. What is the firm's supply curve? How many chairs would the firm produce at prices of $350, $450, $550, and $650? (

the market for lemons has 10 potential customers each having an individual curve p=101-10Qi where p is price in dollars per cup and Qi is the number of cups demanded per week by the ith consumer. find the market demand curve using algebra.draw an individual demand curve and the market demand curve.what is the quantity demanded by each consumer and the market as a whole when lemon is priced at p=$/cup?

The price of coffee rose sharply last month, while the quantity sold remained the

same. Five people suggest various explanations:

Leonard: Demand increased, but supply was perfectly inelastic.

Sheldon: Demand increased, but it was perfectly inelastic.

Penny: Demand increased, but supply decreased at the same time.

Howard: Supply decreased, but demand was unit elastic.

Raj: Supply decreased, but demand was perfectly inelastic.

Who could possibly be right? Use graphs to explain your answer.

The price of coffee rose sharply last month, while the quantity sold remained the same. Five people suggest various explanations:

Leonard: Demand increased, but supply was perfectly inelastic. Sheldon: Demand increased, but it was perfectly inelastic.

Penny: Demand increased, but supply decreased at the same time. Howard: Supply decreased, but demand was unit elastic.

Raj: Supply decreased, but demand was perfectly inelastic. Who could possibly be right? Use graphs to explain your answer.