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A monopolist has two types of customers. There are 100 of TYPE A, who will each pay up tp $10 for a single unit of the good, and 50 of TYPE B, who will each pay up to $8.00. Neither are willing to purchase additional units at any price. If it must find a uniform price what is the price? Assume that spending $80 on advertising will attract 100 more TYPE B customers. Should the monopolist advertise? If so what will happen to the price?
Describe how a firm in a Monopoly market maximizes its profits and minimizes its losses in the short term and in the long term. Can a Monopoly make a profit in the long term?
Law of Demand indicates that there is the inverse relationship between price and quantity, why does it matter which particular mix of price and quantity is selected?
"Oligopolies have a negative impact on income distribution." Do you agree or disagree? Provide justification for our response.
How much should the retailer set the camera price at in order to maximize his own profit and what is the most logical explanation to what may have happened assuming that both companies kept doing business afterwards as usual?
Determine how global competition impacts FORD. Should the organization/industry continue, expand, or reduce current operations in order to maximize profits? Explain your reasoning.
An improvement in soft drink bottling technology and an increase in the prices of sugar and high- fructose corn syrup.
Write a situation that would cause a shift in labor supply and demand. The following areas have had high job growth values and can be used for your scenario:
Determine whether your commodity is a necessity or a luxury product. Identify the availability of substitutes for the chosen product and explain how the necessity of a good and the availability of substitutes impact the price elasticity of the prod..
What type of market structure is the auto industry? Has consumer surplus been affected in any way due to the changes in the auto industry structure, and if so, how?
When measuring costs, it is important to keep in mind of one of the Ten Principles of Economics: The cost of something is what you give up to get it.
Can you please provide me an example of the company that has made a strategic decision based on productivity and costs.
Ajax, Inc. has appointed you to examine the demand for its line of telecommunications devices in 35 different market areas.
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