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Explain the most important characteristic in perfect competition, monopolistic competition, oligopoly, and monopolies and relate the characteristic to how these firms can make profits in the short run. In your analysis, make sure to relate an example for each of the market structures listed and how it relates to the particular characteristics. Analyze the major barriers for entry and exit into the airline industry. Explain how each barrier can foster either monopoly or oligopoly. What barriers, if any, do you feel give rise to monopoly that will allow the government to become involved to protect consumers?
In what ways is state power changing (increasing, decreasing, shifting, diffusing)? and What are the implications of these changes for how we tackle some of the global issues?
Assume you were appointed economic adviser to a less developed country in Africa. The country seeks to encourage capital formation and wants to raise the rate of saving of its
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Three machines are employed in an isolated area. They each produce 2000 units of output per month, the first requiring $20,000 in raw materials, the second $25,000, and the th
An amusement park is consideringchanging its pricing system from a pay- per-ride system to a single entrancefee entitling the entrant to unlimited rides. Assume that the park
If both the agency and the board are right about demand and supply, what is the free-market price? What is the change in city population if the agency sets a maximum average m
Ancient Kingdom is a closed economy with gold as currency. Recent explorations have caused an increase in the quantity of gold in Ancient Kingdom. According to the quantit
How does Ticketmaster's "dynamic pricing" affect ticket sales, total revenue and profit? Does Ticketmaster provide a valuable service, or is it a necessary evil to purchasers
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