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Q. A monopoly's total revenue will always increase when it increases price of its product. A monopoly has ability to set price of its product at whatever level it desires. Which of following statements is (are) true of a monopoly?
Q. Free trade is a sacred cow of economists, who are well-known to be boring, stuffy types; what could be a better way to reinforce one's credentials as a radical, innovative thinker than to skewer their most beloved doctrine?
Illustrate what are the opportunity costs for the manager of being in this business relative to returning to his old job. What is the economic profit of the business.
Elucidate proponets of free market systems argue that free enterprise leads to more efficient production and better responses to changing consumers preferences.
Mining is proposed for a wilderness area that provides two benefits: recreation due to backpacking opportunities and biodiversity there are endangered wildlife and plants.
Which policy do you believe would be more effective in the short term for accomplishing these goals.
llustrate what happens to the money supply. Elucidate how would this change the incentive structure facing depository institutions.
Many of the miles are on dirt roads. From an asset ownership point of view, what type of car should he buy.
If there were 2 million unemployed Thailand had a job-finding rate of 15% per month, how many people would lose jobs each month.
Can you detect any difficulties that the Federal Reserve System might encounter in implementing monetary policy.
Identify the point on the budget constraint this worker has chosen. Explain how much is he working per day.
A new law requires that all construction workers in your area belong to a labor union. Will this shift the labor supply curve, demand curve if both in home construction.
George and John, stranded on an island, use clamshells for money. Last year George caught 300 fish and 5 wild boars. John grew 200 bunches of bananas.
How do prices, output, and profits differ between monopolies and monopolistically competitive firms.
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