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A few questions in this problem set are based on the comments made by James Love to Congress regarding antitrust policy and the Petroleum industry. These are found at the end of the module on Antitrust Policy. Try to read the entire article carefully first... and then see if you can answer the questions (rather than fishing out the answer each time). Obviously you will go back and check to make sure you have it correct ... but to absorb the content it is best read it all first before going back.
What is it about the petroleum industry that simultaneously prevents entry and fosters joint ventures and other collaborations?
A. High fixed (and sunk) costs
B. All of these are mentioned and significant
C. The high dependence on patent holding by those already in the industry
D. The licensing requirements prior to entering
Movies are distributed in a variety of forms, not just first run theatrical presentations. What other ways are movies distributed. What are the different price points.
students are required to write an essay on a significant recent economic event or activity.discuss an economic activity
Under the first plan he pays $0.25 per minute of connect time. Under the second plan, he pays a lump sum of $30 per month and only $0.10 per minute of connect time. Determine David's optimal consumption bundle and his choice between the two plans.
Do you think governments should step in and help an economy move to potential or are "markets" capable of fixing themselves? Carefully consider the impact of falling prices.
q1. besides elections and campaigns do the major political parties influence public values and ideas? do you think
q.you are the owner of a fast food restaurant. given a new item that you recently advertised you experience additional
Explore how firms in monopolistic competition differentiate their products or services to generate a market niche and gain more control over their pricing. To what extent can product differentiation create barriers to entry?
A friend borrows 500$, agreeing to pay back the loan principal plus 75$ interest one month later. One year goes by and he doesn’t pay. Exactly one year later you ask him to pay the loan immediately plus an interest with monthly compounding.
Suppose that real GDP grew more in Country A than in Country B last year. Which of the following does this imply concerning productivity or standard of living?
Mining is proposed for a wilderness area that provides two benefits: recreation due to backpacking opportunities and biodiversity there are endangered wildlife and plants.
Explain how does the price of fertilizer compare to the average total cost, the average variable cost, and the marginal cost of producing fertilizer.
Identify a company in your local area that you would classify as a monopoly. Explain why you classified the company as a monopoly, and state how the company relates to at least two characteristics of that particular market.
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