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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.
What is significant about the connection between the demand for goods and market failures? What happens to the demand for goods when a market fails
In 2006, Willem de Kooning’s abstract painting Woman III sold for $137.5 million. Portray this sale in a demand and supply diagram and comment on the elasticity of supply. Comedian George Carlin once mused, “If a painting can be forged well enough to..
Briefly explain the use of graphs as a way to represent economic relationships. What is an inverse relationship How does it graph What is a direct relationship How does it graph Graph and explain the relationships (other things equal) you woul..
1. munger and interviewer roberts begin by presenting a paradox. what do they mean when they say that firms are
the bank you own has the following balance sheet 2 pointsassets liabilitiesreserves 75 million deposits 500
suppose the recipient of a kidney transplant has stated that she would prefer 5 years of perfect health to the 10 years
in 2001 the government of argentina faced large expenditures and tax revenues were low due to a recession so argentina
This price reduction would also increase sales to 220,000 units during the relevant years. a) Make the decision tree. b) What is the optimal strategy for the monopolist?
Describe planning or operating decisions for your new or existing good or service based on the economy's stage in the business cycle and other economic conditions.
part -11. write down the households budget constraints for period 1 and 2 and identify the current account.2. derive
Why do public goods demonstrate the limitations of a free market economy. they allow consumers to make all of the economic decisions or else.
one reason for rising interest rates was the prospect of a refinancing issu; a $12 billion issue matures April 1 , and the governmoent is expected to seek some new money ,in excess of its refinancing needs. why dosent the government get the center..
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