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Microeconomics
Assignment: Market Structures
Most European countries have nationalized their universities and colleges. Consider that some countries have also used the law to ban private colleges. Should higher education be classified as a natural monopoly in these European countries? Explain and justify your answer and use appropriate examples to support your conclusions.
Next, consider the case of several large, established pharmaceutical manufacturers such as Merck. What type of market form do you believe that such manufacturers operate under?
Justify your answers and use appropriate examples to support your conclusions.Quotations, paraphrases, and ideas you get from books or other sources of information should be cited using APA style. Help with citing sources can be found through the Academic Resources page under Course Home.
Employ the following information on hypothetical short-run production function to answer questions a-d. Compute the marginal and average variable product of each unit of labor input. Hint: plot your Units of labor and Units of Output vertically.
Calculate the cross-price elasticity for the following goods. Determine if they are substitutes or complements?
The accompanying data on milk volume (in grams per day) were taken from the paper "Smoking During Pregnancy and Lactation and Its Effects on Breast Milk Volume" (American Journal of Clinical Nutrition [1991]: 1011-1016): Calculate the values of th..
Using a supply and demand diagram, demonstrate how a positive externality leads to market inefficiency. how might the government help to eliminate this inefficiency.
Production function is F(K,L) = (K^0.3)(L^0.7), where k is capital and l is labor, whose prices are r = 0.5 and w = 1. Derive the long-run cost functions: total, marginal and average. Assuming there are 100 firms in the market. What is the firm suppl..
What are the advantages and disadvantages of preventing the federal budget from ever being in deficit. Explain why the high employment deficit or surplus might differ from the actual budget deficit or surplus.
develop the sales pitch of the specific recommendations for good or service. suppose that you have 5-10 minutes to
consider a monocentric city. export firms have two options for transporting output to city centre a truck or a
How does the rate of population growth influence the level of GDP per person?
After rallying for the most of February to reach record highs late in the month, the S&P 500 stock indez fell sharply on Friday March 6 following news that the economy added 295,000 jobs, bringing the unemployment rate down to 5.5%. An analyst has be..
veronica has saved 5000 that will be a down payment on a new car that can be purchased for 38000.athe loan to finance
Describe several ways in which sellers can convince buyers that their products are of high quality. Which methods apply to the following products: Maytag washing machines, Burger King hamburgers, large diamonds?
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