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Discuss the current monopoly to provide a brief overview of the company. How did the monopoly arise? Did the monopoly increase barriers to entry? Does the company behave like a monopoly or more like a competitive firm? Has the monopoly been cited for monopoly behavior? If so, discuss the behavior and the final outcome of the case. (Hint: Both Microsoft and Wal-Mart have been found guilty of monopoly behavior.)
Consider three consumer goods: 100 of Good A, 100 of Good B, and 100 of Good C. In the base year, Good A sold at a price of $1, Good B sold at a price of $1, and Good C sold at a price of $1. In the current year, Good A sold at a price of $3, Go..
Doesn't the labor theory of value imply that people should write the labor content of their commodities on the price signs instead of amount of money? How would you answer your friend?
Describe the impact of the recent economic crisis in the U.S. on the automobile industry, with special reference to the operating costs and auto sales in the industry.
Consider a market characterized by the following inverse demand and supply functions: PX = 10 - 2QX and PX = 2 + 2QX?
Discuss the opposing arguments as to whether consumer sovereignty should prevail in medical care.
After correcting the sign in the demand function, what is price elasticity of demand for movie tickets and what is the income elasticity of demand for movie tickets?
Calculate the change in welfare compared to the free market outcome (i.e., in the absence of minimum wages). Is this a welfare gain or a loss?
Perform residual analysis using time series plots, autocorrelation analysis, histogram and a normality plot to determine if the residuals are random. Show the graphs.
Explain how a rise in incomes will affect the demand for computers, describe any assumptions that you have to make to give your answer.
The demand for tickets at each game is q = 100,000 - 6,000P. If the capacity of the stadium at that university is 40,000 seats, what is the revenue maximizing price for this university to charge per ticket? I already know the answer is $10. I need..
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. Identify one real-life example of a market struc..
What is the government expenditure on this subsidy?What is the deadweight loss as a result of this subsidy?
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