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Explain why the monopolistically competitive industry is said to be inefficient with "too many firms, each producing too little output." Explain what might offset this inefficiency from the point of view of consumers. Answer this in two or three sentences.
When Wal-Mart locates in a smaller town, often the local retailers (e.g., hardware, clothing, and appliance stores) are unable to successfully compete and are driven out of business.
Total explicit costs of using market-supplied resources for Quest Realty- partial income statement from Sizzling Foods
alternative methods for dealing with market failures that include direct regulation, incentive programs such as tax incentive programs and market incentive programs, and voluntary reductions. At issue, is whether government can successfully addres..
Provide an example of the price discrimination for good or service which you thought it to unfair. Do you still believe that the discrimination is unjustifiable.
How should social class influences affect the planning of a new restaurant in a large city How might the four Ps be adjusted as a result of social class influences
Pick a good or service. Distinguish between the short-run and the long-run production and cost function for that good or service. Discuss how price plays a role in short-run and the long-run decisions and how managers are likely to respond in each..
A profit maximizing monopolist is earning a postive economic profit. If workers wages rise, what happens to price and quantity ?(assume that the monopolist is still earning a positive profit after the wage increase). Is the monopolist better or wo..
Social Security benefits are increased each year in proportion to the increase in CPI, even though most economists believe that the CPI overstates actual inflation. If the elderly consume the same market basket as other people.
Using supply and demand diagrams, show how each of the two developments can explain the increase in the compensating wage differential. Can information on the number of workers in the risky occupation help determine which explanation is more plaus..
LG Electronics plans to invest 30 trillion won by 2010 to make this happen, hoping that the cost savings and reduction in risks associated with vertical integration justify the investment.
Guthrie Enterprises needs someone to supply it with 230,000 cartons of machine screws per year to support its manufacturing needs over the next five years, and you've decided to bid on the contract.
If the price level is above the equilibrium price level, how does the aggregate quantity of goods and services demanded compare to the aggregate quantity of goods and services supplied at the price level? Is this a condition of equilibrium? If no..
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