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1 What are the factors of production and what role do they play in Economics?
2 A natural monopoly occurs when there are large-scale economies in production, so the market can support only one firm. In the light of the above statement, please explain the concept of controlling market power and anti-trust and regulation. How does the government use anti-trust policies to break up some dominant firms? Cite examples to support your answer.
3 Why do perfectly competitive firms make zero economic profit in the long run?
4 Explain why a monopolist must lower its quantity relative to a competitive market to maximize its profits.
5 How do barriers to entry create market power? Why does the government grant patents to companies that research new drugs?
6 Why does entry into markets decrease firm profits and what is "monopolistic" about monopolistic competition?
Identify some of the benefits and some of the costs to the host country from allowing a multinational corporation to locate in a country with a developing economy.
The organization's strategic plan you wrote about in Week 2 calls for an aggressive growth plan, requiring investment in facilities and equipment, growth in productivity, and labor over the next five years. It is your responsibility to determine ..
asume that bob consumes goods x and y according to the following utility function u xy 2x 4xy ycompute bobs marginal
By how much would a proposed merger between the two smallest touch screen makers increase the Herfindahl index? Would the government be likely to challenge that proposed merger?
Consider a monopoly who can do advertisement to inform and attract new customers (hence expands its potential demand). Let a denote the monopoly's expenditure on advertising.
What two conditions are required for effective competition in a market? How does competition limit the abuse of economic power by self-interested individual buyers or sellers?
what would happen to each of the following economic varibles if the government increased the money supply by 20 per
Look anywhere around your home or office and you are sure to find products from every corner of the world. Even products that may be labeled as "Made in (fill in the blank)" are generally assembled from components made in many other countries. The..
If you used a first-price sealed bid auction and the optimal strategy for the participants was to shade their bid by 20% and the participants used this strategy, who would win and what would the winning price be Which auction should you choose ..
Illustrate what are the impacts of innovation and technology on the cost of production.
What explains the recent economic growth, or lack of growth in your country? What is the most recent inflation rate and does it compare to the inflation rate for the same year in the United States?
Suppose that Microsoft is the only producer of operating systems and Netscape is the only producer of Web browsers. Suppose also that nobody wants an operating system without a Web browser and nobody wants a Web browser without an operating system.
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