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a firm that you have done business with recently. What industry does this firm belong to? For example, McDonald's is a firm in the fast food industry. What market structure would this industry fall under? What are the names of other firms in this industry? Is it monopolistic competition, oligopoly, monopoly, or perfect competition? Justify your classification of the firm. Use the characteristics/features of the different market structure to determine which market structure to classify your chosen firm.
Consider now that the entrant, if fought, has the possibility of withdrawin from the industry (at a loss of 1 for the entrant and a gain of 8 for the incumbent), or staying (at a loss of 5 for each player).
What assumptions about the rival's response to price changes underlie the kinked-demand curve for oligopolists? Why is there the gap in the oligopolist's marginal-revenue curve? How does the kinked-demand curve describe price rigidity in oligopoly..
How would a decrease in the reserve requirement effect the (a) size of the money multiplier (b) amount of excess reserves in the banking system and (c) extent to which the system could expand the money supply through the creations of checkable dep..
Rabi Abdullahi and other Nigerian children filed a suit in a U.S. federal district court against Pfizer, alleging a violation of a customary international law norm prohibiting involuntary medical experimentation on humans. Did Pfizer violate any e..
Merchant banking refers to:Banking services that are only available to retail merchants.Banking services that are only available to business but not the general public.
The fixed costs at Harley Motors are $1 million annually. The main product has revenue of $8.50 per unit and $4.25 variable cost. Find out the following.
The commission paid by the RTC to the company to sell these homes is a flat rate of $2,000 per unit sold,rather than the customary commission that is based on the sale price of a home.
Explain the nature of the deadweight losses that occur from a tariff. What is countervailing duty, why is it needed, and how does it work. What is the difference between a specific tariff and an ad valorem tariff.
Compute the marginal rate of substitution of apples for bananas using the marginal utilities. Compute the value of the MRS at (2,4) and at (1, 16).
Relatively little pollution is emitted initially in the production process, but as the factory is used more intensively, pollution per unit of output increases and Explain how the introduction of this policy will affect the production decision of f..
Assume that the following table describes prices, incomes, and per person lobster consumption in three United States cities.
Use the Porter's five forces framework to explain this pattern. Discuss possible profit-maximizing business strategies that artists, record companies, and retailers may wish to pursue.
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