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Singer Taylor Swift has a monopoly over a scarce resource: herself. She is the only person who can produce a Taylor Swift concert.
Does this fact imply that the government should regulate the prices of her concerts?
Why or why not?
What is the relationship between productivity and the cost of production, and how does the cost of production vary over the short- and long-run?
analyze the impact on the consumer's demand of the following three policies under the assumption that the market price does not change.
Use the inverse matrix method to solve for equilibrium level of national income and the equlibrium rate of interest in this economy.
What impact would this have on the Kitty Litter market and the individual Kitty Litter producer in the SR? In the LR? Carefully Explain.
Compute the cross-price elasticity of demand between goods X and Y at the given prices. What is the own price elasticity of demand at these prices?
Given the asymmetric information situation a prospective employer faces in hiring from this labor pool, what is the average salary that they would pay without a signal?
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,
What incentives does a capitates physician have to keep his patients happy? What incentive does an FFS physician have?
Trade Restrictions Effects on Exchange Rates. Suppose that the Japanese government relaxes its controls on imports through Japanese firm.
Law of Demand indicates that there is the inverse relationship between price and quantity, why does it matter which particular mix of price and quantity is selected?
Assume there're three firms with the same individual demand function. This function is Q=1,000-40P. Assume each firm had the diffeerent cost function these functions are: Firm 1: 4,000+ 5Q
If the two are generally not competing on price, are there any forms of non-price competition that might emerge? If so, describe them. Or would such other forms of competition also exhibit "kinked type behavior"?
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