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Give an example of at least one product or service that you have purchased from what you consider to be a perfectly competitive market, a monopolistically competitive market, an oligopoly and a monopoly. For each of your four examples provide evidence or support for why you think each product or service was purchased from a particular market type.
Explain which market type you think lead to the most desirable outcomes from the viewpoint of society. Be specific in identifying what outcomes you consider important. Provide evidence or a rationale to support your view as to which market type you think is most desirable.
If the government imposes a tax on a competitive market with no externalities, then
Since a firm that is a perfect competitor in both the labor market and the final product market has hired the optimal amount of labor where the value of marginal product equals the wage, if the price of the product the firm sells doubles, will the wa..
What is the purpose of a firm? As a manager, to what extent should I care about how much my actions are contributing to the welfare of others?
Cloud computing is a collection of individual technologies that become one integrated technology for deployment. Create a 3-page process map using Visio® showing the various components of cloud computing and who has responsibility for the implement..
How would you determine the demand for a factor of production? What factors influence the supply and demand for labor? Examine how those factors impact market demand for labor. How do labor unions try to increase the demand for labor? What has made l..
People's expectations about the future state of the economy (in other words, their general pessimism or optimism about the future) are very important in determining their current economic behavior.
Sage has $80 to spend this month on CDs and/or DVDs. A CD costs $10 and a DVD costs $20. What is the opportunity cost of the second DVD? Indicate on your graph the combination point showing Jane consuming 8 CDs and 4 DVDs (label it A). What can you s..
Choose an industry or market* and, based on the material in the last few chapters, analyze what type of market structure best describes your chosen industry/market. (i.e., is your industry monopolistically competitive, a monopoly, an oligopoly, or a ..
Consider a hypothetical market for paper. you are given the following demand, supply and MEC curves: P=100-Q MC=1/4Q MEC=10 Draw a diagram that shows the privately and socially optimal outcomes. Determine the socially optimal level of production and ..
Explanation of the organization's financial position and how it arrived at this moment. What is the biggest financial challenge the group faces?
If you want to have $301,301 in 19 years, how much money should you put in a savings account today? Assume that the savings account pays you 6.99 percent, compounded monthly. Cooling Tools, Inc. is currently producing 671 of small refrigerators per m..
When countries buy from one another what currency do they use? If the US buys goods from Japan do they give them dollars that is equal to the amount of yen it is by the exchange rate, or do they exchange their dollars for yen and then trade? Why issu..
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