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You have been hired as a consultant by your local mayor to look at the various market structures. Your role is to provide analysis and answers to these important questions that will help the mayor understand the structures of many of the businesses in his city:
Describe each market structure discussed in the course (perfect competition, monopolistic competition, oligopoly, and monopoly) and discuss two of the market characteristics of each market structure. Identify one real-life example of a market structure in your local city and relate your example to each of the characteristics of the market. Describe how high entry barriers into a market will influence long-run profitability of the firms. Explain the competitive pressures that are present in markets with high barriers to entry. Explain the price elasticity of demand in each market structure and its effect on pricing of its products in each market. Describe how the role of the government affects each market structure's ability to price its products. Discuss the effect of international trade on each market structure
Labor is a resource that is necessary to produce many goods. "If the price of labor falls," says the economist, "the price of goods will soon follow." How does this work?
On the evening of the vote, local union officials voiced serious objections to this statute. Outline the basis of the argument most likely used by union officials.
An inflation shock is a disturbance to the usual behavior of inflation that shifts the IA line. A supply shock is a change in the natural rate of output. Graph the long and short run effects of a positive inflation shock and a negative supply shoc..
explain the meaning and importance of high frequency trading with a literature searchtopic to focus on us equities
Ceteris paribus, Diet Cola Brand X and Diet Cola Brand Y are substitutes in consumption. The price of Diet Cola Brand Y falls.
a monopolists demand function is given byp 80 - 3qwith mr 80 - 6q.its total cost function isnbsptc 20q 200with mc
The government dislikes smoking, and likes tax revenue. If they wanted to increase the after-tax price to $10 per pack, what size of excise tax must be placed on sellers? How much revenue will it raise? What will be the Deadweight Loss?
explain how foreign exchange rates are determined. how do changes in interest rates inflation productivity and income
It is 1932 and you are an economic advisor to President Roosevelt. what advice would you give the president in light of the economic problems facing the country?
the cross price elasticity of demand of soft drinks for popcorn is -2.0; and the income elasticity of demand for soft drinks is 1.2. Use this information to answer the following question.
identify and research three of your employers of choice and visit their websites. creates a list of five criteria that
What are the variables (the items measured on the axes) in a graph of the a) consumption shedule and b) the saving schedule Are the variables inversely (negatively) related or are they directly (positively) related
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