The market for an industrial chemical has a single dominant firm and a competitive fringe comprised of many firms that behave as price takers. The dominant firm has recently begun behaving as a price leader, setting price while the competitive fringe follows. The market demand curve and competitive fringe supply curve are given below. Marginal cost for the dominant firm is $0.75 per gallon. QM = 140,000 - 32,000P
QF = 60,000 + 8,000P, where QM = market quantity demanded, and QF = the supply of the competitive fringe.

Quantities are measured in gallons per week, and price is measured as a price per gallon.

Required:
a. Determine the price and output that would prevail in the market under the conditions described above. Identify output for the dominant firm as well as the competitive fringe.
b. Assume that the market demand curve shifts rightward by 40,000 units. Show that the dominant firm is indeed a price leader. What output (leader and follower)and market price will prevail after the change in demand?

Luis and rosa, citizens of costa rica, moved to the united states in year 1 where they both lived and worked. in year 3, they provided the total support for their four young children (all under the age of 10). two children lived with luis and rosa in the u.s., one child lived with his aunt in mexico, and one child lived with her grandmother in costa rica. none of the children earned any income. all of the children were citizens of costa rica. the child in mexico was a resident of mexico, and the child in costa rica was a resident of costa rica. how many total exemptions (personal exemptions plus exemptions for dependents) may luis and rosa claim on their year 3 joint income tax return? a. 6 b. 5 c. 4 d. 2

What are the main advantages and disadvantages of organizing a firm as a c corporation? the advantages are: (select all the choices that apply.) a. there is no limit on the number of owners a c corporation may have, thus allowing the corporation to raise substantial amounts of capital. b. the life of the business can continue beyond the death of any of the owners. c. the corporation can use the assets of the owners to pay for corporate liabilities. this attracts smaller investors to the corporation. d. the liability of the owners is limited to the amount of their investment in the firm. the disadvantages are: (select all the choices that apply.) a. income to a c corporation is subject to double taxation, once at the corporate level and again when received by the owners in the form of a dividend. b. the life of the business usually ends with the death of any of the owners. c. the c corporation is more complicated and more expensive to set up than other business entities. d. corporate liabilities can be passed on to the share

James has set the goal of achieving all "a"s during this year of school.which term best describes this goal