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We are seeing a merging of media firms. For example, companies like Verizon now provide phone, cell, TV and internet. A common form of selling services involves putting them together in packages or “bundles” and offering them for a lower price than if the services were sold separately. For example, Verizon may offer a deal for phone, TV, and internet services. Also, firms bundle TV channels in different packages. All of these practices have become controversial.
Questions:
1. Do you think that the government should limit the bundling of TV channels by cable companies?
2. Is bundling a good idea for consumers? Explain your answer.
3. Explain the economics of bundling, both from a consumer and producer prospective.
Suppose that a 12 percent rise in the price of pancakes decreases the quantity of pancakes demanded by 22 percent and increases the quantity of waffles demanded by 14 percent. Price elasticity of demand for pancakes. Cross elasticity of demand for wa..
Suppose the owner of the trawler can sell al the fish caught for $75 every 100 pounds also can hire a man crew members as desired by paying them $150 every week.
Assume that the income elasticity of demand for tickets is +2.5. Also assume that the average household in the community makes $20,000 per year and that about 6000 tickets are sold per year. Now let the average household income go up to about $22,000..
If instead the Fed wants to stabilize aggregate demand, how should it change the money supply..
What is player 2's maximin strategy? If the game were played with Player 1 moving first and player 2 moving second, using the backward induction method, what strategy will each player choose?
Suppose the government decides to raise the gasoline tax as a way of reducing air pollution and traffic congestion to their optimal levels. Which of the following describes why Pigovian taxes, such as gasoline tax, are unlike most other
If the number of labor hours increases by 10% and the number of hours of capital used decreases by 10%, what is the percentage change in output?
for RussCo to produce its new Game System. Using that cost function for the Game System, determine the profit-maximizing output and price for the RussCo Game System, and discuss its long-run implications, under three alternative scenarios:RussCo Game..
Consider a market with only two firms. Demand on this market is given by D(p) = 20 – 3p. Initially both firms have the same constant per-unit cost c1 = c2 = 2. What is the equilibrium in this market if firms behave as Bertrand competitors? How much d..
Consider an oligopolistic market with two firms. Each of them produces using a cost function then what is the value of that maximizes total consumer well-being?
Elucidate how the necessity of a good and the availability of substitutes impact the price elasticity of the product. The product is beef.
Find the number of units of input L that maximizes the average product function. Determine the boundaries for the three stages of production.
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