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1) What is a monopolist, and what is required in order for a monopolist to earn profits in the long run? How is government involved with the creation of barriers to entry?
2) What is the most important characteristic of monopolistic competition? How do firms behave differently from perfect competitors? What are the implications of having a large number of firms in a monopolistically competitive market?
3) Suppose that the market for autoworkers is initially in equilibrium, but then the automakers purchase capital goods that are a substitute for workers. What happens to the market for autoworkers? Explain. Now, suppose that the automakers improve working conditions at the plants. What are the effects? Explain.
4) Discuss the significant laws passed since the Great Depression that affect labor-management relations. Explain.
5) Explain the three categories of balance of payments transactions.
Make sure to properly cite and reference the article in your review, along with any additional sources that you use.
rajs utility bundles of x and y is given by uxyxya. fill in the table with rajs utilitynbspfor the corresponding
1. Productive efficiency does not hold for a profit-maximizing, monopolistically competitive firm in the long run equilibrium because the firm operates along the diseconomies of scale region of its average total curve? True or False
While there are many arguments both for and against this view, some find the following argument to be most persuasive of all: "The laws of supply and demand indicate that higher cigarette prices are ineffective in reducing smoking.
Given the above information fill in the following payoff matrix where each entry indicates the number of points won (a positive numeric value) or points lost (a negative numeric value).b) Examine the payoff matrix you created in (a). Does Sue have a..
1. Draw this game in extensive form. Be sure to fully label the game tree. 2. What is the subgame perfect equilibrium outcome? 3. Would you advise Enterprise to build the widget factory?
Perhaps the best way to ensure that the concepts are covered is to organize the paper by topic: 1) demand, 2) supply, 3) price elasticity, 4) cross elasticity, 5) income elasticity, 6) supply elasticity.
Take a position on whether the banking industry needs more or less government regulation. Support your position with two (2) examples of the impact of regulation.
The demand schedule (or demand function or curve) for a good shows the total quantities (Q) that buyers are willing and able to buy at various prices (P) in some period of time. For example, here is a demand function illustrating the very special ..
Suppose in a closed economy, government spending is $60, business investments are $120 and consumers' spending is given as C = 120 + 0.85Y. What is the equilibrium level of output?
Assume industry abatement costs rise from $850 million in 2004 to $1,000 million in 2005 in nominal terms and that CPI is 100 in 2004 and 106 in 2005.
Explain the advantages and disadvantages of using a change in the tax rate to achieve the desired increase in output.
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