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A monopolist can earn positive profits in the long run because it has market power, allowing it to charge a price that is higher than marginal cost.
In the case of a natural monopoly (i.e. a firm whose average cost decreases as output increases due to large fixed and low marginal costs), the government should generally regulate the monopolist to charge a price equal to marginal cost.
A monopoly with a more elastic demand curve will have more market power.
Patent protection essentially gives software developers a monopoly; therefore, the practice of granting patents to developers should end.
Draw a diagram with appropriate labels and indicate attainable, unattainable, efficient and inefficient areas on the diagram.
Tom can produce 40 balls per hour or 4 bats per hour. Tessa can produce 80 balls per hour or 4 bats per hour.a. calculate Tom's opportunity cost of producing a ball. b. calculate Tessa's opportunity cost of producing a ball.
If the firm has $20,000 on hand, with only these two project to choose from, will they invest in A, B, neither or both? Show the calculations that lead to your conclusions. Explain whether you answers would be different for either project if the f..
You are hungry. Very hungry. You come across one of several restaurants in a given area. As you look through the menu posted outside the door, you see that the prices are about double of what you expected.
The "Baby Boomers" are in their retirement age. What affect might this have on the productive capacity of a country's labor force.
Find the future value of $10,000 invested now after five years if the annual interest rate is 8 percent. What would be the future value if the interest rate is a simple interest rate? What would be the future value if the interest rate is a compound ..
What is your monthly loan payment? What is your yearly loan payment and what is your yearly depreciation? What is the book value of the property at the end of ten years?
1. consider the model of corruption explored by shleifer and vishnirsquos where there is one government-produced good
A producer of synthetic motor oil for automobiles and light trucks has made the following statement: "One quart of Dynolube added to your next oil change will increase fuel mileage by one percent.
Suppose the annual inflation rate is at 2% and 8.5% of the labor force is currently unemployed. If you were on the Fed's Open Market Committee, what action would you prescribe? How would this affect the economy, the inflation rate, and the unemplo..
the engineering department of a large firm is overly crowded. In many cases, several engineers share on office. It is evident that the distraction caused by the crowded conditions reduces the productive capacity of engineers considerably.
problem 1please dene or explain the following terms. a complete answer will include a graph equation andor example as
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