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Discussion
Market Structures and Cost Management" Please respond to the following:
• From the scenario for Katrina's Candies, determine the appropriate type of market structure for the situation in question. Cite at least four defining characteristics that have helped you reach this decision regarding the appropriateness of the chosen structure.
• Imagine that you are a manager of a chemical company. An accident has occurred in which chemicals leaked into the ground water nearby. The community is unaware of the accident. Compare the primary costs involved in cleaning up the water immediately (and thus confessing) versus hiding your culpability now and possibly paying more in the future. Predict the impact on profitability in both situations.
How will high entry barriers into a market influence (a) the long-run profitability of the firms (b) the cost efficiency of the firms in the industry (c) the likelihood that some inefficient high-cost firms will survive
Assume after 10 years real consumer spending doubles to 100. Explain how much do you believe will be the budget share of leisure.
Explain the aims of counter cycliceal policy. Show how governments might achieve these aims by using the instruments available to them
Discuss the parameters bK and bH. Which one would likely be larger - Suppose that bK = bH. Discuss the short-run dynamics if the economy begins with K(0)/H(0)(K/H)∗?
Draw marginal revenue function for this firm. What is the profit-maximizing price for this firm? On the graph describe the area, this represents the net loss to society resulting from the monopoly power conferred by the patent.
How can two countries both be better off as a result of trade? How can tariffs protect U.S. jobs? Do tariffs lead to a net increase in jobs? Explain
Consider two firms X and Y produce identically tasting cold drinks. In order to increase the demand for its cold drink, firm X increases its advertisement outlay. However the advertising doesn’t increase its demand in the long run. Explain why this m..
If the government uses its knowledge of its monopolistic position, Illustrate what criteria will it employ when determining how many soldiers to recruit. What happens if a mandatory draft is implemented.
In the coordination failure model, suppose that consumers preferences shift so that they want to consume less leisure and more consumption goods. Determine the effect on aggregate variables in the good equilibrium and the bad equilibrium.
What is the highest fee that the government can charge for a license, if the government wants both Big Ben Taxis and Whitehall Taxis to purchase a license? (Note: A licence does not place a limit on the number of taxi trips a company can supply. Y..
Include an evaluation of the impact of past and current budget deficits or surpluses on the United State economy and on the airline industry.
Describe three ways we can use macroeconomic analysis, with one (1) original example for each way.
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