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Why you think that Microsoft's current share of sales in the personal computer operating systems market is (or is not) large enough for Microsoft to set prices for operating system software as a monopolist? Also, how big of a share do you think a firm needs to have of a market before it can set prices as if it was a monopolist? Lastly, what do you think the makers of other personal computer operating systems could do to gain a larger share of sales in that market or cause Microsoft to lower the price of the personal computer operating systems that it sells?
Suppose that you are indifferent in between se designations, save for differential risk of death, and illustrate what does your willingness to pay for these vacation tells you about Explain how much you value your life.
Suppose an industry consists of 2 firms that compete by choosing quantities simultaneously in each period t = 1, 2, 3,...... (in other words, the two firms play infinitely repeated Cournot game). Inverse demand in the industry is given by the linear ..
The Einstein Bagel Corp. has used a frequent buyer program whereby a consumer receives a stamp each time she purchases one dozen bagels for $6. After a consumer accrues 10 stamps, she receives one dozen bagels free. This offer is an unlimited offer, ..
Suppose that the labor market is competitive and there are a total of 1,000 black workers and 1,000 white workers (who each supply their labor in elastically). Both black and white workers are equally productive, having constant individual dollar pro..
Show the effect of each of the following events on the market for coffee by stating 1) if the equilibrium price went up, down, or stayed the same and 2) if the equilibrium quantity went up, down, or stayed the same:
On the same day, the San Francisco Chronicle had an article with the headline "Sharp Drop in Bay Area Home Sales"
Cornell has two options for upgrading their athletic facilities. The off campus option costs only $20 million, but it will require frequent bus service to those facilities at an annual cost that starts at $300,000 and increases by 4% per year.
Suppose a comparable phone costs 500 USD in the U.S. and 300 EUR in Germany. If the nominal exchange rate is 0.8 EUR per 1 USD, then the real exchange rate in terms of how many German phones can be traded for one U.S. phone is
He has an endowment of w1 = 100 and w2 = 0 and faces relative prices p1/p2 = 2. If the relative price decreases to 1, what are the Slutzky substitution and income effects on the consumption of good 1?
Are innovators always bad or criminals? Can you think of any examples in which people accepted societal goals, rejected the means, and came up with their own legal and creative way of achieving the goals? Please explain.
What explains that ATC is U-shaped for two reasons. The first is the existence of diminishing marginal product.
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