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What is the responsibility of individuals in the cost of their care? Are health savings accounts and high deductible insurance policies an approach that should be expanded? What are the concerns for low-income individuals?
Alchem (L) is the price leader in the polyglue All 10 other manufacturers (follower [F] firms) sell polyglue at the same price as Alchem. Alchem allows the other firms to sell as much as they wish at the established price and supplies the remaind..
Suppose the market demand function (expressed in dollars) for a normal product is P=80-q, and the marginal cost (in dollars) of producing it is MC=1q, where P is the price of the product and q is the quantity demanded and/or supplied.
What factors explain the high degree of independence of the Fed? 5. What factors limit the independence of the Fed? 6. What is the case in favor of Fed independence? What is the case against Fed independence? 7. What is the theory of bureaucratic beh..
What is the relationship between the average variable cost and marginal cost and relation between average product and average variable cost?
Suppose there is a market for an industrial compound, Weon. This industrial compound is used as an input for production of cleaning agents.
Suppose equilibrium GDP is less than full-employment output and the economy is in a recession. What are the appropriate fiscal policies that would take the economy to full employment level?
Suppose Jonah and Carlos have a contract, which Carlos chooses to breach. Jonah sues, and a court orders Carlos to pay him the amount he expected to gain at the time they made the contract, net of any amount he actually did receive after the breac..
Imagine cell phones are simple and the only thing consumers care about is minutes. Suppose a monopolist wireless company says, "The cell phone and the first 6 minutes are free, and the price of each additional minute is $2." Now suppose your deman..
Suppose average movie attendance is 250 million tickets when prices are $7 a ticket and 200 million when prices are $9 a ticket.
The market for a standard-sized cardboard container comprises two firms: BooBox and Flimflax. As manager of BooBox you enjoy patented technology which permits your company to produce boxes faster and at lower cost than Flimflax.
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..
The four kinds of market structures are Perfect Competition, Monopoly, Oligopoly, and Monoplistic Competition. Given dynamics of competition, think of the different sequential paths of market structures which firms can move by over time (any of th..
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