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Unformatted text preview: type of programming that is cheaper for the company to provide yet is equally appealing to customers. Explain what would be the effects of this action. 3. Consider a perfectly competitive market. Analyze and explain in detail using graphical tools to show what you expect to happen to the number of firms and firm profitability in the short run and long run a) if demand for the product falls and b) if demand for the product rises. 4. Discuss why some long-run average cost curves are steeper on the downward side than others. Discuss fully. 5. If you purchased a new model of a digital camera right after it is released, you will likely pay more than if you purchase it six months after release. Explain why this is an example of price discrimination on the part of the firm. 6. Explain the rationale and the implications of the new guidelines used by the Department of Justice and the Federal Trade Commission for evaluating proposed mergers....
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This note was uploaded on 08/16/2011 for the course ECON 100 taught by Professor Creamer during the Summer '11 term at Strayer.
- Summer '11