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Under what sutation oligopolistic market structures lead to higher productive and allocative efficiency and more choice for consumers compared to monopoly?
Of the top 20 global brands, 14 of them (70 percent) are from United States-based corporations. What effects might this weighting have on the global consumer community? Women’s inequality in housework varies between nations. Discuss some of the reaso..
Assume that skilled wages are twice that of unskilled wages, and that half of the population fits into each category, skilled and unskilled. Graph the Lorenz curve and calculate the gini coefficient.
An economist working for a private information service argues that it would be better for the US economy if the USDA stopped providing public information on crop production levels and projected prices.
In the paper by Paul Degrauwe, The Governance of a Fragile Eurozone, he argues that the fundamental problem causing the problem in the Euro-zone today is that countries cannot borrow in their own currencies. Explain what he means by this and what the..
For five years, an oil drilling company has operated profitably in the state of Alaska (the only place it operates). Last year, the state legislature instituted a flat annual tax of $100,000 on any company extracting oil (or natural gas) in Alaska. H..
Let the market for cigarettes be characterized by the following information: Calculate the tax revenue in the post-tax equilibrium. Calculate the change in consumer surplus due to the sales tax. Calculate the change in producer surplus due to the sal..
It has been suggested that large, tall hierarchies will predominate in physical capital intensive industries, and these will typically have seniority-based promotion policies. By contrast, flat hierarchies will be seen in human capital intensive indu..
What is your monthly interest rate and what is your annual effective interest rate? If you have an outstanding balance of $1,800 on that card what would be the balance if you skipped 4 months payments (ignore credit card fees and penalties)
In what sense does the Fed "create money"? Suppose that the minimum required reserve ratio for banks was 1/11. Also suppose that banks held no excess reserves and that currency in circulation was unchanged. What action in the Treasury bill market wou..
Consider statement, "Monopoly power comes from market acceptance, not from a patent, a prettier product, a slick advertising campaign, or anything else. Do you agree? Discuss your response to the questions in this problem.
Textile Workers of America is planning to strike for higher wages. Management predicts that if strike is successful, cost of labour will increase $100 per day. If strike is successful, how would this affect decision in part a to purchase a textile..
The current price charged by a local movie theater is $8 per ticket. At the current ticket price, the theater typically sells 300 tickets per showing. If the theater raises ticket prices to $9, the theater will sell 270 tickets. Assuming that the dem..
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