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Question
Please note that this question requires substantial research. A summary from the text book is not sufficient. To score well you will have to consult several academic type references.
Explain duopoly and monopoly market structures, and identify the key factors that distinguish them.
Choose two different industries from your home country representing duopoly and monopoly, and identify their key characteristics in relation to the factors used to differentiate between the market structures. Using information from your case studies analyse the market outcome for each case study.
Briefly explain the game theory and apply it to your case study. Using information from your case studies analyse the behaviour of the firms.
The local utility company applies a "declining block" rate structure for its industrial consumers, that lower unit price is charged for higher quantity blocks of electricity and water usage. Is the company practicing any type of price discriminati..
The demand curve for a product is given by P=60-3Qd, where P is the price of the product and Qd is the quantity demanded for the product.
What is the elasticity of demand with respect to income? Comment on and interpret your answer (i.e., the sign and magnitude of the elasticity).
A country has had a steady value for its floating exchange rate (stated inversely as the domestic currency price of foreign currency) for a number of years. The country now tightens up on (reduces) its money supply dramatically.
Why is elasticity of demand, useful in policy decisions Consider both price elasticity of demand and income elasticity of demand. Using graphs to illustrate your explanations of elasticity of demand, when elasticity changes and when it does not
Some airline executives have called for reregulation. Why might an executive of an airline prefer to operate in a regulated environment?
Suppose that a natural monopolist was required by law to charge average total cost. On a diagram, label the price charged and the deadweight loss to society relative to marginal cost pricing. Briefly explain your diagram and comment on the results..
Provide a brief critique of the CEO's use of your analysis to arrive at her decision to keep the tuition reimbursement program. Assume that she has no additional information on the relationship between employee happiness and participation in the t..
The government wants to decrease the consumption of electricity by 10 percent. The price elasticity of demand for electricity is -0.4.
Rabi Abdullahi and other Nigerian children filed a suit in a U.S. federal district court against Pfizer, alleging a violation of a customary international law norm prohibiting involuntary medical experimentation on humans. Did Pfizer violate any e..
Suppose that the economy is initially at equilibrium, in which total planned real expenditures equals real GDP. Which of the following will occur if there is an increase in autonomous investment?
The text presents the target rate of unemployment as being about 5 percent. William Vickrey, a Noble Prize winning economist, argued that the target unemployments rate should be seen as being between 1 percent and 2 percent.
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