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Compare the efficiency of monopolistic and perfectly competitive markets.
Discuss the economic factors that lead to the development of monopolies. Examples of monopolies include electric utilities, railroads, airlines, cable television, and sports leagues. Try to focus your answer on a specific industry.
Governments grant temporary monopolies through patents and copyrights to pharmaceutical companies, authors, and artists. Consider the trade-offs that society must make when granting those temporary monopoly rights.
Given what you know about perfectly competitive markets, compare the efficiency of monopoly and perfect competition. Which is more efficient? Explain your reasoning and try to illustrate with a hypothetical example.
describe: 1. the characteristics of private property; 2. two other property rights arrangements; 3. at least three policies or institutional arrangements that have been developed to address property rights challenges in natural resource management.
Conclude by choosing a position for or against ethnicity-based jury nullification and defend your decision.
If the price of cheese is marked down during a sale by 20% and in response the quantity demanded (sales) increase from 30 packages to 45 packages what is the price elasticity of demand? Is demand elastic or inelastic?
Which of the following situations is likely to involve moral hazard?
How do successful businesses sustain competitiveness in a highly fierce business environment? What's the best strategy to maintain business leadership relative to competition?
What is the equilibrium quantity and equilibrium price for the following demand and supply curves: Calculate consumer and producer surplus in this market.
Explain the interdependence of Banks and Railroads and what effect it had on economic development. Explain why southern railroads had a much more difficult financial time then did railroads in the north.
They are all highly populated areas with target markets suitable for your products. One factor is which there several formidable competitors in all of the areas
Now assume there are 6,350 employees and probability of dying is still 1in 5,000. What is the value of 1 statistical life?
At this level of pollution, what is the marginal cost of pollution control.
Suppose you can hire your mechanic for up to six hours. The total benefit and total cost functions are B (H)=420H-40H^2 and C(H)=100H+120H^2. The corresponding formulas for marginal benefit and marginal cost are MB (H)=420-80H and MC(H)=100+240H.
Firms can have: Accounting losses and economic losses
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