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You will write an original post responding to the following prompt (worth 15 points) (1-2 paragraphs in length):
In the last post we described a market that was perfectly (or at least very) competitive. There are not a lot of examples of these types of markets as you all discovered. The majority of markets that exist today are somewhere between perfectly competitive and monopolistic markets.
For this post you will be choosing a firm and describing whether or not this firm is in a oligopolistic market or a monopolistically competitive market. You must describe why the market structure is what you claim it is, in this you should be describing the characteristics of the market structure and how the market that your firm resides in is consistent with the description of the market. What allows your firm to have monopoly power? What does this do to the price of the good that your firm sells? What about the quantity? Discuss these in comparison to what the prices and quantities produced would be if your firm was in a perfectly competitive market and monopolistic market.
The average total cost of operating a clinic is $800 per patient if the volume is one hundred patients, and $790 each patient if the volume is 110 patients. Find the total cost at each of these two volumes?
you have been hired as a consultant by your local mayor to look at the various market structures. your role is to
Initially, Michael has 10 candy bars and 5 cookies, and Tony has 5 candy bars and 10 cookies. After trading, Michael has 12 candy bars and 3 cookies. In an Edgeworth box, label the initial allocation A and the new allocation B.
Consider now that the entrant, if fought, has the possibility of withdrawin from the industry (at a loss of 1 for the entrant and a gain of 8 for the incumbent), or staying (at a loss of 5 for each player).
How much labour should be allocated to plant Alpha and to plant Beta? And, at the best allocation, what is the output produced?
It is supposed that the liquid soap market is perfectly competitive and current price of a case of liquid soap is $42.00. The firm has estimated it's marginal cost function to be as follows: MC=0.006Q.
If the lending process continues as far as it can possibly go, how many deposit dollars will be created from this initial $1000 deposit?
"The Economics of Professional Sports" Please respond to the following: Explain the economic consequences that would unfold if one of the major four sports leagues in the United States reorganized into a single-entity league. Discuss the consequen..
You have been hired as a consultant by your mayor to evaluate the increase in aggregate demand in the city where you live. Describe to the mayor one (1) aggregate demand and supply factor that would have the greatest impact on the economy of your ..
A group has chartered a bus to Atlanta. The driver costs $200, the bus costs $500, and parking in Atlanta will be $90. You have already paid $700 to reserve the bus and a driver
Outline a microeconomic reform issue that is relevant to the Australian economy and how successful do you think these reform measures were and say why referring to some data or research that has been performed?
A company obtained $500000 for a necessary technology from a venture capitalist who charges them 24% compounded monthly. the agreement calls for no payment until the end of the first month of the fourth year, with equal monthly payments thereafter..
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