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The economic inefficiency of a monopolist can be measured by A. the number of consumers who are unable to purchase the product because of its high price. B. the poor quality of service offered by monopoly firms. C. the excess profit generated by monopoly firms. D. the deadweight loss.
Even if a perfectly competitive firm produces at a loss in the short run, continued production is prefer abled to shutting down as long as:
Dramatically cut military spending. Raise taxes significantly on the wealthy. Raise taxes substantially on low & middle incomes by imposing a national sales tax. Dramatically cut Medicare budgets for senior health care by privatizing it (Ryan plan)
Find an article about a current event that discusses a change in the supply or demand of a product. For example, has there been a weather event that has affected certain food crops or the availability of energy? Has a new consumer product been introd..
1. Define supply as an economist would. 2. List and explain three (3) non-price factors that will shift the supply curve.
In the short run, a firm's total costs of producing 100 units of output equal $10,000. If it produces one more unit, its total costs will increase to $10,150. Illustrate what is marginal cost of the 101st unit of output.
Show that consumer surplus when the monopolist innovates is lower than the consumer surplus that obtains when the entrant innovates.
The financing of a government deficit increases interest rates also, as a result, reduces investment expenditure.
Lets denote the price of a nonmaturing bond (called a consol) as Pb. The equation that indicates this price is Pb = l/r, where l is the annual income the bond generates.and r is the nominal market interest rate. What happens to the bond’s price if th..
Assume that the nation is not large enough to affect the world price. Illustrate the effects of a tariff on imports.
For tax purposes, “gross income” is all the money a person receives in a given year from any source. But income taxes are levied on “taxable income” rather than gross income. The difference between the two is the result of many exemptions and deducti..
The International Parcel Service has installed a new radio frequency identification system to help reduce the number of packages that are incorrectly delivered. What is the FW of this investment? b) What is the IRR of the system? c) What is the disco..
Black men earn an average of 21% less than white men. A labor economist who wants to investigate whether the differences in earnings indicate labor-market discrimination against black men should consider whether black and white men have similar
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