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1.) With an economic perspective write a brief summary of the current event article
- The Washington Post"Coming Soon to an Airport New You - Flight Delays" 4-19-2013
2.) Write your opinion and application of this article to your life
1. Describe the welfare costs of a monopoly.
2. Discuss the regulator organizations that monitor anti-trust in America. Name these organizations and their functions.
3. Summarize in 100 to 150 words the concept of determining labor market equilibrium
4. Summarize in 100 to 150 words the elements that determine the minimum wage in America.
5. Define a monopsony market for labor. Is it a wage maker or taker? What does the supply curve look like and why? Discuss the relationship between the marginal labor costs and wage rates. What determines the amount of labor that a firm hires?
6. Name and discuss the different types of labor unions. Be sure to include specifics.
Plot graphically the demand and MR curves for each market, and also show GGC's combined marginal revenue curve (?MR) and its MC curve. Show graphically the quantities that should be produced and sold, and the prices that should be charged, in each..
The current economic downturn has been called a housing disaster, a financial disaster and a debt crisis, but the simplifying logic of the political season has settled on what is really more a result than a cause.
Pick a good or service you are familiar with. Speculate how the price for that good or service may have been set and how well this price maximizes profit for the company and determine what shifts the company should make in its pricing strategy.
What is the maximum quantity of quarks it can produce and what is the opportunity cost of producing the first 600 quarks?
Make a short treatment on the examine governments take to promote exports and restrict imports. Describe who profits and who loses from protectionist rules as they relate to net outcome for society.
Briefly Explain how the Gross Domestic Product (GDP) affected the recession in the United States throughout the late President Bush and early President Obama years.
Calculate the appropriate value to use for income in your analysis. Explain why you choose to use that level of income and what is the dead weight loss associated with monopoly
Research the current demand for a good or service of your choice. Collect information that will affect the demand for the good or service.
Think a competitive industry consisting of one hundred identical firms each with the following cost schedule,
Discuss and explain the major barriers to entry into a industry. Describe how each barrier can foster monopoly or oligopoly.
The President of US is suggesting increased spending for a missile defense system and also proposing a major long term tax cut. Provide some predictions of possible outcomes for the federal budget categories,
Based upon marginal revenue or marginal cost analysis, explain how output and price are determined in monopolistically competitive markets.
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