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1. Compared between monopoly and perfect competitive market, there is no deadweight loss in the latter one, so the market is claimed to be the most (static) efficient. What is deadweight loss? Why the standard theory says it is bad to society? Now, DWL emerges in monopoly as we must assume both markets have identical MC and Demand curves. Why we need to assume that and why this assumption might be invalid?
2. Conventional textbook championed perfect competitive market as it produces highest static efficiency. However, some economists argue that markets especially in the long run rather require dynamic efficiency. What is the static efficiency in perfect competitive market? How it differs from dynamic efficiency? Why perfect competition is less likely to innovate?
what is producer surplus and how is it measured? what is the relationship between the cost to sellers and the supply
When an employee is being terminated, what are the appropriate steps to follow? Should the news come from a letter/email or person to person?
choose and research a specific business that is publicly traded where there has been a pattern of change in a
Suppose M = $80,000, PR = $30, T = 5, PE = $12, and N = 6,000. Using these, compute and write the direct demand function for Good A. Show your math. Watch the decimals! The coefficient on M is 0.02 and the coefficient on N is .4
Describe various revenue models available as video content shifts from atoms to bits. What are the advantages and disadvantages to each - for consumers, for studios, for middlemen like television networks and Netflix?
Identify and discuss at least two economic phenomena for which the linear-in-parameters/linear-in-variables regression model may not be appropriate
Among the tax proposals regularly considered by Congress is an additional tax on distilled liquors. The tax would not apply to beer. The price elasticity of supply of liquor is 4.0, and the price elasticity of demand is -0.2. The cross-elasticity of
In the article, several people in this industry complain about thinner profit margins. Can the retail market survive with the current level of profits Do you expect there will be entry of more firms into the retail market
On their way to their chosen resturant, they see that the Mexican and French resturants are closed, so they use a Borda count again to decide between the remaining two restaurants. Where do they decide to go now?
What is the profit maximizing output if the price and What is the maximum profit that can be achieved - What is the marginal product of the 3rd worker
Compute the quantity supplied by each firm at prices of $1, $1.50, and $2. What is the minimum price necessary for each individual firm to supply output?
Explain the process of mind mapping. Mind mapping begins with a project name. Develop a “project name” and potential deliverables to go along with the core “project.” Report the project name and the potential deliverables.
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