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You have been hired as a consultant by your local mayor to look at the various market structures. Your role is to provide analysis and answers to these important questions that will help the mayor understand the structures of many of the businesses in his city.
Describe each market structure discussed in the course (perfect competition, monopolistic competition, oligopoly, and monopoly) and discuss two of the market characteristics of each market structure.
Suppose there is a market for an industrial compound, Weon. This industrial compound is used as an input for the production of cleaning agents.
Nonetheless, Omega earns zero economic profits because numerous competitors have entered the market over the last few years. Based on this information, does Omega operate in a perfectly competitive market Why or why not
Compared to the Gini coefficient for income distribution, the value of the Gini coefficient for the distribution of wealth would be,percent of families on the vertical axis and percent of income on the horizontal axis b. percent of families on the h..
Assume you were appointed economic adviser to a less-developed nation in Africa. The nation seeks to encourage capital formation and wants to increase the rate of saving.
Explain the effects of these shocks on the price level, real GDP, and the nominal interest rate. Use an upward-sloping, short-run supply curve in your analysis.
Assume the new leadership in Congress decides to repeal some of the tax breaks granted to large businesses throughout the past several years. What impact will the repeal have on the exporting of jobs to foreign countries? describe by using isoquant ..
What is the "current macroeconomic situation" in the U.S. as of 2013 (e.g. is the U.S. economy currently concerned about unemployment, inflation, recession, etc.) What fiscal policies and monetary policies would be appropriate at this time
CEO pay appears to be on the rise again. Also executive pay in the US is about 20 times higher than it is in European countries.
The depreciation schedule for certain equipment has been arrived at by various methods. The estimated salvage value of the equipment at the end of its 6 year useful life is $600. Identify the resulting depreciation schedules. Year A B ..
In the 1st half of the 20th century, AT&T had a near monopoly on local and long distance phone service. The company charged a price for local telephone services.
A movie production company faces a linear demand curve for its film, and it seeks to maximize total revenue from the film's distribution. At what level should the price be set Where is demand elastic, inelastic, or unit elastic Explain
Work out the effects of the following changes on 1. International price of bananas 2. Output of both goods in both countries.(Show the changes in world relative supply and demand curves and the PPF of each country).
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