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1. Is the online book retail 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? Explain your answer.
What is the probability that it will take a worker between 6 and 10 minutes to complete the task
Review the biographies of each of the seven members of the Board of Governors.
Assume a machine which has a useful life of only one year costs $2000. Assume, also, that net of such operating costs as power, taxes and so forth, additional revenue from output of this machine is expected to be $2300. What is rate of return on ..
Suppose the distribution of innate ability is distributed symmetrically throughout a population but which the wage distribution is positively skewed.
The demand for good x1 is given by: (m/p1) - (p1/p2), where p1=1, p2=1, and m=10.Which of the following accurately describes the INCOME elasticity of demand?
Find an article (newspaper, magazine or online) about the unemployment rate. Use the article to answer the following questions: What is the current unemployment rate in the US? Is the unemployment rate rising, remaining the same, or decreasing? There..
Identify the two events that can cause a shift in the Production Possibilities curve.
How much revenue will the government raise by taxing Beatriz? How does that revenue compare to her economic losses? Does the new tax raise enough revenue to compensate her for her loss?
Draw the payoff matrix for this game. Elucidate any possible Nash equilibria in pure strategies for this game.
directly to patients, who then would be free to choose their health care providers. Whether or not you agree, can you give an economic rationale for this approach to governmental health care funding?
Due to the global economic slowdown, we were benefiting from relatively low oil prices.
Sketch the firm's isoquant and isocost lines and show its current equilibrium in the use of labor and machines when producing 200 gizmos per month.
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