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a) Please explain the difference between the collusive and competitive oligopoly models and explain the role that the number of firms and barriers to entry play in determining how real-world oligopolistic industries behave.
b) Show graphically and explain how a monopoly results in a deadweight loss. Also point out the redistribution that takes place in society because of monopoly. (*edit: You don't have to give graph if you do not know it, though it would be nice. I mainly need the explanation and to point out the redistribution that takes place)
Suppose that the production function is y=ka, where y and k denote production per unit of effective labor and capital per unit of effective labor, respectively. Suppose also that the saving rate, the depreciation rate, the growth rate of the populati..
Suppose that a consumer’s demand for a product is given by P = 80 – 2Q. A monopolist produces the product at constant marginal cost, where MC = $6. The firm has no fixed costs. Suppose the monopolist sets a two-part tariff for the good where the cons..
What is the rationale behind the choice of target or acquirer, if appropriate for your opening bid and your overall bidding strategy.
A firm has estimated that the demand for its product comes from two types of customers, type I and type II. Each type I customer -there are 30 of them- has a demand curve given by Q = 20 - P, while each type II customer -there are 50 of them- has a d..
You will explain the causes of income inequality in the U.S. and demonstrate the problems associated with measuring income inequalities. Analysis of income distribution data does not lead all economists to the same positive or normative conclusions. ..
A piano manufacturer has a daily fixed cost of $1,200 and a marginal cost of $1,500 per piano. Find the cost C(x) of manufacturing x pianos in one day. Hint: A linear cost function, C(x) = mx + b. Use your function to answer parts b to e. On a give..
The absolute value of Mars' MRS at his current consumption bundle is strictly greater than 2. Mars has convex preferences. Which of the following statements is (are) true? Justify your answer graphically.
Sketch a well labeled graph showing the impact of the tax. On whom does the tax burden fall-the team's, owners, the fans, or both.
Suppose there is a permanent increase in a country's saving rate. This increase in the saving rate will cause:
Compare murder rates with and without death penalty. Cross-section of states: is murder rate higher on average in states without executions.
In a one page synopsis explain the following statement - A monopolist can control the price or the quantity sold, but cannot control both
An increase in the interest rate is expected to cause the number of people attending college to:
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