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Explain why a monopolist can increase profits by practising price discrimination compared with using a single price to maximize profits? What are the different kinds of price discrimination? What are the necessary conditions required for a monopolist to be able to practice each kind? Provide one example of each of the different types of price discrimination. You may use graphs to illustrate.
Explain what happens to the position of the nation's short-run Phillips Curve if the following events occur:
How will high entry barriers into a market influence (a) the long-run profitability of the firms (b) the cost efficiency of the firms in the industry (c) the likelihood that some inefficient high-cost firms will survive
question read the following article and answer the questions at the end.predictions of post-gfc gloom were premature by
How do you think each of the following affected the world price of oil? (Use demand and supply analysis.)
The country of Arkanslavia had money supplies of 183 million arkollars in 2010 and 644 million in 2011. They have real output of 791 arkollars in both years.
In a 1990 article assessing the 1980's, Time reported that: "The good news is that U.S. gross national product doubled during the 1980s, from $2.7 trillion to $5.3 trillion." The GNP number they refer to is nominal GNP. Why might this news not be as ..
Find the equilibrium quantity and price. What is the total health expenditure on the services considered in the demand-supply functions?
Explain why is a struggle underway in Cuba between social equality and the free market. Why did Cuba permit free markets? Who in the video wants Cuba to remain socialist.
All of the firms will submit sealed bids. The procurement officer will look at all of the bids and select the lowest bid but pay to the lowest bidder a price equal to the price bid by the second lowest bidder. Show that bidding c is a weakly domin..
Assume the problems of maximizing solves the first problem if and only if it also solves the second problem.
Draw a supply/demand diagram to model the US stock market (use the value of a stock price index such as the S&P 500 to represent the overall level of stock prices.
A country's long -run equilibrium price level has increased, but the position of its aggregate demand schedule has not changed. what has happened? what specific factors might have accounted for this event?
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