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Question
Please note that this question requires substantial research. A summary from the text book is not sufficient. To score well you will have to consult several academic type references.
Explain duopoly and monopoly market structures, and identify the key factors that distinguish them.
Choose two different industries from your home country representing duopoly and monopoly, and identify their key characteristics in relation to the factors used to differentiate between the market structures. Using information from your case studies analyse the market outcome for each case study.
Briefly explain the game theory and apply it to your case study. Using information from your case studies analyse the behaviour of the firms.
Write the equation for Total Costs and what is TC when profit is maximized - what is Total Revenue when profit is maximized?
The problem in economics in price theory deals with deriving maximum marginal utility and marginal rate of substitution.
In the aftermath of September 11 terrorist attacks, the quantity of sold airline tickets in 2002 fell by a large percentage when compared to 2001. During the same time period the average price for airling tickets also fell.
Comment on the statement. Do you agree with the speaker? Explain. Use a graph to illustrate the answer indicating the firm's short-run cost structure
You're the GM of firm that manufactures PC's. Demand for them has dropped 50%, thanks to soft economy. The sales manager has identified only one potential client, who has received many quotes for 10000 new PC's.
What does the market for sugary sodas look like? Provide a supply-demand graph with realistic prices.
If we are able to increase our domestic energy production, and that allows us to import less oil from foreign countries, briefly explain what will happen to the GDP.
The aggregate demand curve slopes decrease, because when the price level is reduce, people can afford to purchase more, and aggregate demand increase.
Discuss on relationships between production and cost, highlighting the equivalence between diminishing marginal productivity and increasing marginal costs.
There're many different kinds of monopolies which exist in the market. you're going to talk about the different kind of monopolies, their place in the market, and their effect on society. please describe the following:
During the job interview, the Vice President understood that you had received rigorous training in managerial economics, and you were able to choose some appropriate methods to predict the market movement.
Describe the difference between a monopoly and an oligopoly, and a cartel and provide an example of the monopoly, an oligopoly, and a cartel and write down the welfare effects of monopolies and oligopolies.
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