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1. Is the online book retail (e.g. Amazon.com) industry qualified as a perfectly competitive market by the four market characteristics listed in the lecture note? If not, what characteristic(s) is (are) not met?
2. There are so many companies having websites to sell their products. However, not every company is successful in online retail. In your opinion, what are the common characteristics of products which can be sold successfully in online retail? Please provide at least one example and explain your answer.
3. Microsoft has been a giant in the software industry. Can we define Microsoft as a monopoly? Please explain. In addition, whether the Learner Index works well to define the market power for Microsoft in the software industry?
make a case for the notion of a negative or positive externality. show model that illustrate how to internalize the
Entrepreneurship is a factor of production which adds value to the production process and therefore earns a legitimate return to its exertion. How would you evaluate these two contrasting views, and what are their implications for society?
a. the food and drug administration classifies tobacco an addictive substance.b. the congress votes to raise the excise
Wages after inflation rise for most Americans by about 3% and for highly skilled workers by 7%. The stock market soars and home prices rise dramatically. If all other things are equal, what is the likely effect on the poverty rate
What effect, if any, would each of the following have on the short-run average (ATC, AFC, AVC) and marginal costs of an auto dealership:
Inflation and unemployment-Suppose that, in an attempt to combat severe unemployment, the government decides to increase the amount of money in circulation in the economy.
lets take a look at how we might model the eect of increased income or wealth on peoples preferences for dierent kinds
What happens to the marginal rate of substitution as you move along a convex indifference curve? A linear indifference curve?
Suppose that you are a consultant to a firm that publishes books. Suppose that the firm is about to publish a book that will sell for $24 a copy. The fixed coat of publishing the book are $7200, the variable cost is $18 a copy. What is the breakeven ..
Calculate the present worth of the following geometric series cash flow: Annual interest Rate =8.19 %, Annual cash flow increases 21% each year, The first year value is $85 and the series is 8 yrs long.
What is the relationship between income and exports?
Who in the Ethiopian society has the most difficult time dealing with scarcity? What do they need most? How can their society provide for their wants and needs? Why are they so impoverished? What can their governments do to help, or hinder their coun..
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