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If several different sovereign nations form a cartel within the energy industry such that the four-firm concentration ratio is 0.90, does the concentration ratio necessarily represents the relevant market and should this be considered a violation of the anti-trust laws of sovereign nations that are not part of the cartel? Are there any market forces that will eventually cause the cartel to collapse?
Which do you think is better, having specialized employees that are experts at their job, or a multitasking workface that is not specialized but able to many different jobs? W
the government implements a 25% tax on labor income as a way to raise revenue. Calculate the excess burden resulting from this tax, and illustrate your answer with a graph
Suppose the cost of producing a 30 second commercial for television is $100,000. If airtime on the evening news costs $200,000 and is viewed by 5 million people, what is the a
Public health information can be broadcast at a cost of $100. Public health information is a pure public good, in that many people can use the information simultaneously and p
You have your eyes on a new automobile costing $25,000. If you wrote a check for the $25,000, you could drive off in your new car. However, you don’t have it and must finance
Suppose that the supply for potatoes is Qs=2000+200P and the demand for potatoes is Qd=4000-300P-2I, where P is Price and I is Income. Let I=500. are potatoes a normal good or
Show the effect of a 50 percent tax on interest income assuming the substitution and income effects cancel each other out. Compute and label all relevant values in your grap
Use an IS-LM diagram to illustrate Krugman's contention that fiscal policy is more effective as a macroeconomic policy tool when compared to monetary policy, given that the
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